Business Insurance for Mortgage Brokers

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Mortgage Brokers
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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.

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One application, multiple quotes

Insureon helps mortgage brokers compare small businesses insurance quotes from top U.S. carriers online. Get several quotes with one application.

What types of insurance do mortgage brokers need?

These policies provide coverage for the most common mortgage broker risks.

General liability insurance icon

General liability insurance

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.

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

Errors and omissions insurance

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.

  • Late or erroneous paperwork
  • Accusations of negligence
  • Errors and oversights
Workers’ compensation insurance icon

Workers’ compensation insurance

Workers’ compensation insurance is required in almost every state for mortgage brokers that have employees. It can cover medical costs for work-related injuries.

  • Employee medical expenses
  • Partial missed wages
  • Lawsuits over employee injuries
Business owner’s policy icon

Business owner’s policy

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.

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

Commercial auto insurance

This policy covers vehicles owned by a mortgage brokerage. It typically pays for damages after an accident, along with theft and vandalism.

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

Cyber liability insurance

This policy helps mortgage brokers survive data breaches and cyberattacks by helping pay for recovery expenses, such as customer notification costs.

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

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 related to errors in loan transactions, employee injuries, property damage, cyberattacks, and various other risks.

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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