Business Insurance for Mortgage Brokers

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Mortgage Brokers
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Why do mortgage brokers need insurance?

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.

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Find the right coverage

Insureon helps mortgage brokers find business insurance that matches your unique risks.

Get free expert advice and peace of mind knowing you have the right protection for your small business.

What types of business insurance do mortgage brokers need?

These policies cover the most common risks faced by mortgage brokers.

General liability insurance icon

General liability insurance

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.

BEST FOR
  • Customer bodily injuries
  • Damaged customer property
  • Libel and other advertising injuries
Errors and omissions insurance icon

Errors and omissions insurance

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.

BEST FOR
  • Late or erroneous paperwork
  • Accusations of negligence
  • Contract disputes with lenders and borrowers
Workers’ compensation insurance icon

Workers’ compensation 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.

BEST FOR
  • Employee medical expenses
  • Disability benefits
  • Lawsuits over employee injuries
Business owner’s policy icon

Business owner’s policy

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.

BEST FOR
  • Customer injuries
  • Damaged customer property
  • Business property damage and theft
Commercial auto insurance icon

Commercial auto insurance

This policy covers financial losses related to business vehicle accidents. Each state has its own requirements for auto liability insurance.

BEST FOR
  • Property damage caused by your vehicle
  • Auto accident injuries
  • Vehicle theft and vandalism
Cyber liability insurance icon

Cyber liability insurance

This policy helps mortgage brokers recover from data breaches and cyberattacks. It's strongly recommended for financial institutions that handle sensitive information.

BEST FOR
  • Client notification expenses
  • Fraud monitoring services
  • Data breach investigations
Looking for different coverage? See more policies.

How much does insurance cost for real estate professionals?

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

A small real estate business will pay less for insurance than a larger company.

Factors that affect premiums include:

  • Real estate services offered
  • Business property and equipment
  • Business income
  • Types of insurance purchased
  • Policy limits and deductibles
View Costs

How do I get mortgage broker insurance?

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:

  1. Complete a free online application
  2. Compare insurance quotes and choose policies
  3. Pay for your policy and download a certificate

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.

What our customers are saying
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"I had an urgent contractual requirement for insurance in December to pay before the end of the year. Holly Burton worked with The Hartford to send me an invoice around Christmas. I have saved hundreds in taxes."
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"Raynaldo made quick work of things. I told him what I needed, and ultimately I had a certificate of insurance in a matter of hours."
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"The response time was almost immediate. The options I was given were based on my company's needs. I received the policy in record time."
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