Business Insurance for Real Estate Appraisers

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Real Estate Appraisers
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An inaccurate valuation or accidental property damage could financially impact your appraisal business. Protect yourself with real estate appraiser insurance.

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Insureon helps real estate appraisers compare insurance quotes from top U.S. carriers online. Get several quotes with one application.

What types of insurance do real estate appraisers need?

These policies provide coverage for the most common appraiser risks.

General liability insurance icon

General liability insurance

This policy covers basic real estate appraiser risks, such as customer property damage and injuries. Bundle with property insurance for savings in a business owner’s policy.

  • Slip-and-fall accidents
  • Damaged customer property
  • Libel or slander lawsuits
Errors and omissions insurance icon

Errors and omissions insurance

This policy is also called E&O or professional liability insurance. It can cover the cost of lawsuits related to an appraiser's work performance and business decisions.

  • Accusations of inaccurate appraisals
  • Missed deadlines for appraisals
  • Work errors and oversights
Workers’ compensation insurance icon

Workers’ compensation insurance

This policy is required in almost every state for real estate appraisal businesses with employees. It can help cover medical fees and lost wages for work-related injuries.

  • Employee medical expenses
  • Missed wages
  • Legal costs
Business owner’s policy icon

Business owner’s policy

This policy bundles property insurance and general liability insurance in one plan. A BOP is often one of the most cost-effective types of commercial insurance for an appraiser.

  • Customer injuries
  • Damaged customer property
  • Damaged business property
Commercial auto insurance icon

Commercial auto insurance

This policy is required for business-owned vehicles. It typically pays for medical bills and damages after an accident, along with vehicle theft, vandalism, and weather damage.

  • Car accidents
  • Vandalism and theft
  • Weather damage
Cyber liability insurance icon

Cyber liability insurance

This policy helps real estate appraisers mitigate the aftereffects of data breaches and cyberattacks. It can cover data recovery expenses and other costs related to a breach.

  • Data breach lawsuits
  • Breach notification expenses
  • Fraud monitoring costs
Looking for different coverage? See more policies.

Why do real estate appraisers need business insurance?

Real estate appraisers play the essential role of determining property value for both lenders and buyers. An inaccurate estimate could lead to a lawsuit with tremendous financial repercussions for your small business. Real estate appraiser insurance can help you bounce back from a lawsuit, injury, or other unexpected loss.

How much does insurance cost for real estate professionals?

Real estate professional using calculator in front of home for rent.

Several factors will have an impact on insurance costs, including:

  • Real estate services offered
  • Business equipment and property
  • Revenue
  • Location
  • Number of employees
View Costs
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Real Estate Appraisers