A client injury at your office or a transaction error could be grounds for a lawsuit against your brokerage. Protect yourself with insurance for mortgage brokers.
These policies provide coverage for the most common mortgage broker risks.
This policy covers common mortgage broker risks, such as customer property damage and injuries. Bundle with property insurance for savings in a business owner’s policy.
Also called E&O or professional liability insurance, this policy covers legal fees related to business errors and work performance, including lawsuits from dissatisfied clients.
Workers’ compensation insurance is required in almost every state for mortgage brokers that have employees. It can cover medical costs for work-related injuries.
This policy bundles property insurance and general liability insurance in one plan. It's one of the most cost-effective commercial insurance policies for a mortgage broker.
This policy covers vehicles owned by a mortgage brokerage. It typically pays for damages after an accident, along with theft and vandalism.
This policy helps mortgage brokers survive data breaches and cyberattacks by helping pay for recovery expenses, such as customer notification costs.
Running a mortgage brokerage can be highly lucrative, but that reward comes with risks. Mortgage broker insurance protects your business from damaging lawsuits and expenses related to errors in loan transactions, employee injuries, property damage, cyberattacks, and various other risks.