Real Estate Appraiser Insurance: Cost & Quotes From $30/mo

Table of contents

A real estate appraiser determines the market value of commercial or residential real estate property. The job has its risks. You can get sued for inaccurate information or misrepresentation by the real estate investor. Property owners can also file a claim for violation of good faith. Last but not least, your employees can get hurt while visiting a real estate development project. 

To protect your business, you must get a comprehensive real estate appraiser insurance policy. This article will detail some of the critical components and point you in the right direction to purchase a policy.

General Liability Insurance for Real Estate Appraisers

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $300,000/$1,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No Excluded Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included
Can you get a certificate of insurance online? Yes Yes Yes Yes Yes
Name additional insureds? Yes Yes Yes Yes Yes
Deductible $0 $0 $0 $0 $0


Your real estate appraiser insurance package will not be complete without a general liability insurance policy. This policy protects your real estate appraising business from third-party property and injury claims. Example situations include:

  • A customer walks into your office but trips over some misplaced clutter and injurie their back

  • While assisting a representative from a company that has hired you, you accidentally damage some of their business property

Add-Ons of General Liability Insurance for Real Estate Appraisers

Real estate appraisers will want to look out for helpful add-ons to their general liability insurance, such as:

  • Hired and non-owned auto–Covers vehicles the business does not directly own, like rentals, leases, and employee vehicles used for business purposes

  • Cyber liability–Provides coverage for your real estate appraising business in the event of a data breach or costly cyber attack that might harm your business or its customers

Coverage Limits of General Liability Insurance for Real Estate Appraisers

The coverage limits for real estate appraisers will generally be $1 million in occurrence and $2 million in aggregate for their general liability insurance.

What Limitations Do I Need To Look Out for on My General Liability Insurance?

General liability insurance does not cover all risks. Important exclusions to note are employee injury, auto liability and accidents, and damage to your property.


What Am I Risking by Not Getting General Liability Insurance?

If you avoid purchasing general liability insurance, you could be hit by costly legal settlements, judgments, and lawyers’ fees. Lawsuits covered by general liability insurance could potentially bankrupt your business. 


Errors and Omissions Insurance for Real Estate Appraisers

CoverWallet  NEXT Thimble (Best) Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $1,000,000 $1,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $1,000,000 $2,000,000
Name additional insureds? Yes Yes Yes Yes Yes
Waiver of subrogation included? Yes No Yes Can be included No
HIPAA coverage included? No No No No No
Sexual misconduct coverage included? No No No No Can be included
License defense coverage included? No No No No Can be included
Deductible  $500 $500 $500 $50/$10,000 $500


Your real estate appraiser e&o insurance will cover incidents of negligence, mistakes, and oversights that can financially burden your business. Real estate appraiser errors and omissions insurance protects you from court fees, court judgments, lawsuit costs, and other related expenses. Some examples where errors and omissions insurance can help include:

  • You neglect to properly check if a piece of property meets safety regulations, causing injury to someone who moves in.

  • A mistake on a property fact sheet causes a client to lose out on an investment

Add-Ons of Errors and Omissions Insurance for Real Estate Appraisers

  • Excess liability–Adds additional coverage to an already existing errors and omissions insurance policy that protects you against heavy losses in an unexpected situation

  • Media liability–Protects your business against potential liability claims that result from your business’s published content in places like the internet, social media, and other sources

Coverage Limits of Errors and Omissions Insurance for Real Estate Appraisers

Real estate appraiser e and o insurance will have a coverage limit of $1 million in occurrence and $1 million in aggregate. If you need higher coverage, you should ask about higher limits. Some companies extend coverage up to $2 million-$4 million.


Do Real Estate Appraisers Need Errors and Omissions Insurance?

Yes, e and o insurance for real estate appraisers may not be legally required for your business, but you will need it. Since a real estate appraiser’s judgments on a property can drastically affect its price, any mistakes can have the potential for massive financial damage.

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Commercial Property Insurance for Real Estate Appraisers

CoverWallet NEXT (Best) Thimble The Hartford Hiscox
Building coverage limit (minimum) $50,000 $320,000 $25,000/$500,000 $75,000 $25,000
Contents coverage limit (minimum) $50,000 $35,000 $25,000/$500,000 $75,000 $15,000
Outdoor signs Excluded $2,500 Excluded Excluded Included
Accounts receivable  Excluded Excluded $5,000/$10,000 Excluded Included
Money and securities Excluded $2,500 $1,000 Excluded Included
Lock and keys  Excluded $2,500 Excluded Excluded Included
Business interruption floater Excluded Included Included Excluded Included
Equipment breakdown floater Excluded Included Excluded Excluded Included
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Excluded Excluded


Real estate appraiser commercial property insurance protects your commercial property against damage or destruction. Your business property and its contents get protected from natural events, theft, and vandalism. Examples include:

  • A thief breaks into your real estate appraiser business office and steals your electronics

  • A thunderstorm strikes your building and causes property damage that you need to repair

Add-Ons of Commercial Property Insurance for Real Estate Appraisers

  • Equipment breakdown coverage–This protects your business equipment from internal physical damage resulting from incidents like mechanical breakdowns and power outages

  • Outdoor sign coverage–Protects your business signs, which exist outside of your business property, from physical damage

Coverage Limits of Commercial Property Insurance for Real Estate Appraisers

Commercial property insurance for real estate appraisers offers coverage limits between $20,000 and $60,000. 

Real estate agent in suit with garden in the background


Business Owner’s Policy for Real Estate Appraisers

CoverWallet NEXT (Best) Thimble  Hiscox The Hartford
General liability aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Commercial property coverage limit  $50,000 $320,000 $25,000/$500,000 $75,000 $75,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes


Real estate appraisers use business owner’s policy because it combines general liability and commercial property insurance. Examples of this coverage include:

  • A member of the public hoping to get real estate advice from you slips on a misplaced rug in your office and breaks their ankle

  • A windstorm blows through your area and shatters the windows of your real estate appraiser’s office

Add-Ons of Business Owner’s Policy for Real Estate Appraisers

  • Employee dishonesty insurance–Protects your business from harmful actions that your employees cause, like fraud, social engineering, and other business crimes

  • Employment practices coverage–This can help defend you in lawsuits that employees bring for issues relating to wrongful termination, workplace harassment, and discrimination claims

Coverage Limits of Business Owner’s Policy for Real Estate Appraisers

Your real estate praiser business owner’s policy will have a limit between $1 million and $2 million for liability claims. This limit can be higher or lower depending on the policy you select.


Will My BOP Support Adding Non-Owned Auto Insurance to It?

Non-owned auto insurance can add protection for your employee’s personal vehicles when they run business errands, meet clients, and travel to different properties to appraise their value. You can avail this as an add-on to a BOP or general liability insurance. 


Tools and Equipment Insurance for Real Estate Appraisers

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes
Deductible $500 $500 $0 $0


Tools and equipment insurance is a policy that protects your business tools and equipment, such as computers, laptops, HVAC, and others. Real estate appraisers can get protection from:

  • Fire

  • Theft

  • Vandalism

  • Upset

  • Operator error

Add-Ons of Tools and Equipment Insurance for Real Estate Appraisers

  • Inland marine insurance–Covers your financial losses if tools and equipment got lost or damaged while in transit or another location 

  • Flood insurance–This can cover tools, equipment and other properties damaged by flood waters. Standard commercial insurance policies may exclude flood protection

Coverage Limits of Tools and Equipment Insurance for Real Estate Appraisers

Tools and equipment insurance coverage for your real estate appraiser business typically covers movable tools under $10,000. The coverage range for equipment is between $5,000 and $20,000. 


Commercial Auto Insurance for Real Estate Appraisers

Real estate appraisers will want to add commercial auto insurance to their policy to protect any business vehicles.  Commercial auto insurance covers the cost of accidents caused by your commercial vehicle. You can also use this policy to take care of vehicle repairs.  Commercial auto policies typically have basic these coverages:

  • Auto liability coverage–Covers the medical expenses and property damage of third parties if your vehicle causes an accident

  • Collision coverage–Helps repair your vehicle if it gets damaged or totaled from a vehicle collision on the road.

  • Comprehensive coverage–This protects from virtually all other physical damage aside from road accidents

Add-Ons of Commercial Auto Insurance for Real Estate Appraisers

  • Medical payments–Covers the medical expenses of your vehicle’s driver and passengers, regardless if the accident is caused by your commercial vehicle or another vehicle

  • Rental reimbursement–This helps you pay for the costs to rent a temporary vehicle if one of your commercial vehicles is out of commission

Coverage Limits of Commercial Auto Insurance for Real Estate Appraisers

Commercial auto insurance coverage limits will vary between $100,000 and $1 million for liability claims. This number can go even higher depending on your choice of insurance company. 


Will My Commercial Auto Policy Change if I Hire Independent Contractors in My Business?

Independent contractors can still get coverage if they use your business vehicles, provided that your commercial auto policy names them as permissive users. 


Excess Liability Insurance for Real Estate Appraisers

Excess liability insurance adds extra protection to an already existing real estate appraiser policy. In effect, this is a way to extend your coverage limits beyond what they would usually be able to provide. Example situations include:

  • Your general liability policy cannot fully cover the cost of a bodily injury lawsuit, so you get extra funds from excess liability insurance

  • A commercial auto policy doesn’t have enough coverage left after repeated incidents. You can use excess liability to extend the coverage limit

Coverage Limits of Excess Liability Insurance for Real Estate Appraisers

Your real estate appraiser’s excess liability policy will have a coverage limit of up to $25 million. Check with your insurer to find out how much is available.


Can I Use Excess Liability to Cover Multiple Policies at Once?

No, excess liability coverage will only cover one policy at a time. If you want coverage extended with multiple policies, you will want an umbrella policy. Umbrella policies can apply to multiple insurance policies and are a great way to get extra protection from a complicated peril.


Does My Real Estate Appraiser Business Need Excess Liability Insurance?

It depends. If your business often faces liability risks and chances of lawsuits, you might want excess liability insurance to cover all your bases. This will depend on the kind of clients you work with as well. Sometimes clients may require you to have more insurance coverage than your primary insurance policy can provide.


Workers Compensation Insurance for Real Estate Appraisers

Workers’ compensation insurance is a policy often legally required for any business with employees. If your real estate appraiser business has employees, this policy can help them with medical costs and lost income when injured on the job. Some example situations include:

  • While falling at a job site, an employee gets disabled and is unable to work for a temporary period. They receive a benefits payout to help them out

  • One of your employees develops carpal tunnel syndrome from typing on the computer, needing medical treatment and reducing their ability to work

Can Workers Compensation Insurance Protect the Business Owner From Liability?

Yes, a workers compensation policy can also include a type of coverage called employer’s liability insurance. This protects the employer when employees file a lawsuit due to their injury or illness caused by unsafe working conditions. 

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Real Estate Appraiser  Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $35 $420 $0-$500
Professional liability insurance $42 $504 $500-$1,000
Excess liability insurance $44 $528 $500-$1,000
Commercial property insurance $60 $720 $1,000-$2,000
Business owner’s policy $102 $1,224 $1,500
Commercial auto insurance $68 $816 $500-$1,000
Tools and equipment insurance $49 $588 $500-$1,000
Workers compensation insurance $94 $1,128 $2,000-$5,000


The average real estate appraiser insurance cost is $35 per month or $420 per year for a $1 million general liability policy. Factors that affect the cost of premiums are claims history, business history, policy limits, deductibles, coverage limits, annual revenues, location, and number of employees. Here’s a table showing the cost of a $1 million general liability insurance from the best real estate appraiser insurance companies:

Cost per Month Cost per Year Best for
NEXT $21 $252 Best overall; Fastest general liability insurance for real estate appraisers
CoverWallet $26 $312 Comparing real estate insurance quotes online
The Hartford $23 $276 Workers compensation insurance for real estate appraisers
Tivly $28 $336 Comparing real appraiser insurance quotes over the phone
Thimble $31 $372 On-demand coverage for real estate appraisers
Hiscox $33 $396 Worldwide coverage for real estate appraisers

Compare Cheap Real Estate Appraiser Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Real Estate Appraiser Insurance Companies

Here are some of the best real estate appraiser insurance companies. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.


NEXT Real Estate Appraiser Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for  real estate appraisers

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

NEXT is a business insurance expert that offers a variety of policies for real estate appraisers. They have policies like general liability, commercial auto, and worker’s comp you can sign up for with their app. NEXT has an A- rating with AM Best which speaks to its long-term security. They are accredited by the Better Business Bureau since 2018. 

Best for: Best overall; Fastest general liability insurance for real estate appraisers

Average cost: $21 per month

Our rating: 10/10


The Hartford Real Estate Appraiser Insurance

Pros

  • Get your quote quickly and completely online

  • Online claims tracking

  • Renowned company for workers compensation insurance

Cons

  • Limited add-ons to general liability insurance

The Hartford is a spectacular insurance company with all the options a real estate appraiser needs. They work with you no matter the size of your business to get the coverage necessary for your operations. The Hartford comprehensively underwrites its workers comp insurance. It has earned the number 2 spot for the best provider of the policy. 

Best for: Workers compensation insurance for real estate appraisers

Average cost: $23 per month 

Our rating: 10/10 


CoverWallet Real Estate Appraiser Insurance

Pros

  • Compare quotes online

  • Cheap premiums if you decide to pay for the whole year

  • Easy online policy management

Cons

  • Not an insurance company but an insurance broker

CoverWallet brings a lot to the table. They offer top partners and many coverage options for real estate appraisers. They have errors & omissions, commercial auto, general liability, and cyber liability insurance. CoverWallet, by the way, allows you to compare the quotes for these policies all at once through its online platform. 

Best for: Comparing real estate insurance quotes online 

Average cost: $26 per month

Our rating: 10/10 


Tivly Real Estate Appraiser Insurance

Pros

  • A rating from the Better Business Bureau makes it a reliable choice

  • Compare quotes over the phone

  • A partner of many reputable insurance companies 

Cons

  • No convenient mobile app to help you pick your policy

Tivly is an online insurance platform with much to offer. Through their massive selection of partners, they help you look at different real estate appraiser insurance options. Policies you can get from this company are general liability, commercial property, business owner’s policy, and more. Call now to compare quotes over the phone. 

Best for: Comparing real appraiser insurance quotes over the phone 

Average cost: $28 per month

Our rating: 10/10 


Thimble Real Estate Appraiser Insurance

Pros

  • Flexible coverage when you need it

  • Quickly issues an estimate of your rates

  • Numerous add-ons to general liability insurance and business owner’s policy

Cons

  • You can’t reach customer service by calling 

Thimble is a highly-rated insurance company that its customers highly trust. The company has a Better Business Bureau score of A+. They are an excellent pick for first-time real estate appraiser insurance customers. Thimble sells general liability insurance as a short-term or annual policy. 

Best for: On-demand coverage for real estate appraisers 

Average cost: $31 per month

Our rating: 10/10 


Hiscox Real Estate Appraiser Insurance

Pros

  • 5% discount if you bundle policies

  • Worldwide coverage

  • 14-day money-back guarantee

Cons

  • May be missing some policy features you may want

Hiscox offers industry-tailored policies  Available business insurance solutions are general liability, workers compensation, commercial property, and business owner’s policy. With flexible payment options that minimize fees, they can be an excellent choice for your real estate appraiser insurance policy.

Best for: Worldwide coverage for real estate appraisers 

Average cost: $33 per month

Our rating: 10/10 

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