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 from injuries, property theft, cyberattacks, and mistakes in paperwork or calculations.
These policies cover the most common risks faced by mortgage brokers.
This policy covers basic third-party risks, such as a customer's slip-and-fall injury in your office. Bundle it with commercial property insurance for savings in a business owner’s policy.
This policy covers legal defense costs related to errors and oversights, such as a mistake on a mortgage loan document. It's also called E&O insurance or professional liability insurance.
Most states require workers' comp for mortgage companies that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
A BOP bundles commercial property insurance and general liability coverage in one plan. It's one of the most cost-effective commercial insurance policies for a mortgage broker.
This policy covers financial losses related to business vehicle accidents. Each state has its own requirements for auto liability insurance.
This policy helps mortgage brokers recover from data breaches and cyberattacks. It's strongly recommended for financial institutions that handle sensitive information.
It's easy to get mortgage broker business insurance and surety bonds if you have your company information on hand. Our application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance coverage for your brokerage firm, whether you work independently or hire employees.