Choose from the nation's best insurance providers
Top real estate professionals we insure
Recommended business insurance policies for real estate professionals
A simple mistake could have a big impact on your small real estate company. Business insurance can help you recover from a discrepancy in a listing, a lawsuit over tenant complaints, or a fire at your office.
General Liability Insurance
Covers bodily injuries, customer property damage, and advertising injuries. Often required for commercial leases.
Best for:
Slip-and-fall accidents
Customer property damage
Libel lawsuits
Professional Liability Insurance
Also called E&O insurance, this covers legal costs for professional errors or missed deadlines.
Best for:
Negligence lawsuits
Project disputes
Work mistakes
Workers' Compensation Insurance
Covers medical expenses for employee injuries and is required in most states.
Best for:
Employee medical costs
Disability benefits
Injury-related lawsuits
Business Owner’s Policy (BOP)
Combines general liability and commercial property insurance for small businesses in one affordable package.
Best for:
Customer injuries
Damaged property
Business interruptions
Cyber Insurance
Helps businesses recover from cyberattacks and data breaches by covering recovery costs and customer notifications.
Best for:
Data breach lawsuits
Customer notifications
Fraud monitoring
Commercial Auto Insurance
Covers vehicle-related accidents and damages. Required for business-owned vehicles in most states.
Best for:
Auto accident lawsuits
Vehicle damage or theft
Vandalism
How much does insurance cost for real estate professionals?
A real estate agency with only a few employees can expect to pay less for business insurance than a larger agency.
Factors that can affect your insurance costs include:
- Type of business, such as residential or commercial real estate
- Personal property coverage options (actual cash value vs. replacement cost)
- Business revenue
- Location
- Number of employees
- Coverage limits and deductible
How do I get real estate business insurance?
It’s easy to find real estate insurance with Insureon. Whether you’re an independent real estate agent, a property manager, or a mortgage broker, you’ll need to have some basic information about your business available.
Our application will ask you for your annual revenue and payroll, among other details. You can buy a policy online and get a certificate of insurance with Swift Insurance in three easy steps:
- Complete our free online application.
- Compare free quotes and choose a policy.
- Pay for your policy and download a certificate for proof of insurance.
Swift’s licensed insurance agents work with top-rated U.S. providers to find the right insurance solutions for your real estate business, whether you work alone or run an agency with multiple employees.
Common questions about real estate business insurance
Are real estate professionals required to carry E&O insurance?
Whether you’re required to carry errors and omissions insurance depends on your profession and the laws in your state. In particular, real estate agents and brokers sometimes need to carry a certain amount of this coverage to get licensed in their state.
Every real estate professional can benefit from this coverage, especially when an error or oversight could prove financially damaging to a client. The combination of E&O insurance and general liability insurance together will protect you against the most common lawsuits from clients, as part of a recommended risk management plan.
Do real estate property owners need additional coverage?
When you rent out a building, you take on risks that may require specialized coverage. Insureon’s licensed agents recommend these policies for commercial landlords and other real estate owners:
- Lessor’s risk only (LRO) protects landlords against lawsuits from tenants related to injuries and property damage.
- Building insurance helps cover costs when a storm, fire, or other covered peril damages or destroys your building. It can typically be added to your LRO coverage.
What other insurance coverages do real estate businesses need?
All real estate businesses can benefit from the following policies, in addition to those mentioned above. They can help you in the event of catastrophic losses from a lawsuit, or a devastating property claim that forces your business to close.
- Business income insurance, also called business interruption insurance, covers costs when a fire or other covered property claim forces you to close your business temporarily. It’s often included with commercial property insurance or your business owner’s policy.
- Commercial umbrella insurance increases the protection of your other liability coverages, such as general liability, commercial auto, and employer’s liability insurance. It activates when the underlying policy reaches its limit on a claim.
An Insureon agent can help you find coverage options for other exposures, such as flood insurance for water damage, to make sure you’re fully protected.
What is a hold harmless agreement?
You may see the term hold harmless agreement during your search for real estate insurance. Also called an indemnity agreement, it protects your business by requiring others to agree not to sue you in certain circumstances.
As an example, a commercial landlord might ask their renters to sign a hold harmless agreement in order to avoid liability if someone gets injured or their property is damaged while visiting them. It’s a good way for businesses that would otherwise face high risks to avoid costly lawsuits.