Business Insurance Requirements for Real Estate Professionals in North Carolina

North Carolina is home to Raleigh and Charlotte, which host two of the hottest housing markets in the country. The state’s growth in population and income coupled with a low unemployment rate and strong income gains are driving fierce bidding wars, with inventory struggling to keep pace with demand. As a real estate professional in North Carolina, this high-pressure market can be stressful. One way to reduce the stress associated with your business is by having the right insurance to protect it.

The key to selecting appropriate insurance for your business is to consider your individual risk and important factors that define your real estate business. Is your business planning to move into a commercial space? Most leasing agreements stipulate that you show proof of general liability and/or commercial property insurance. You may also be asked by potential clients to show proof of professional liability insurance. Also called errors and omissions or real estate liability insurance, this policy can help cover legal expenses if you’re sued due to a business discrepancy. Real estate agents and brokers in North Carolina are not required to carry this policy under state law. North Carolina law does require all small businesses with three or more workers to carry workers’ compensation insurance.

Insureon makes shopping for insurance easy with industry-leading technology that gathers quotes from top U.S. carriers that fit your needs. Read more to find out which policies are most common for real estate professionals in North Carolina, and start an application to get your free quotes today.

Find the right insurance policy for your realty business

The most common policies for North Carolina real estate agents and brokers vary depending on a number of factors, including revenue, client contracts, and partnerships. The table below illustrates which policies might work best for your business type.


Business type General liability / BOP Professional liability Workers' comp
1099 or independent contractor X X  
Business owner with employees X X X
Solo business owner X X  


General liability insurance: General liability insurance is the foundation of a real estate professional’s business protection. Coverage extends to bodily injury, client property damage, advertising injury, and the cost of legal defense. Most commercial leases require you to have this coverage.

Professional liability insurance: Many clients require proof of professional liability insurance before entering contracts for professional services. This policy, also called errors and omissions insurance or real estate liability insurance, can help cover legal expenses if you’re sued for unsatisfactory work or a business discrepancy.

Business owner's policy (BOP): Real estate agents sometimes qualify for a business owner’s policy. This package helps your business save money by bundling commercial property insurance with general liability at an affordable rate.

Cyber liability insurance: Cyber liability insurance helps real estate agents and brokers survive data breaches and cyberattacks by helping with recovery expenses. You may need this policy if you handle sensitive data such as credit card numbers, passwords, or Social Security numbers.

Commercial auto insurance: Commercial auto insurance can cover vehicles your business owns or uses for business purposes. If your vehicle is involved in an accident, this policy can cover your liability for the other person's bodily injuries and property damage. It can also pay to repair your car when it is damaged by theft, weather events, or vandalism.

North Carolina workers' compensation insurance: North Carolina requires employers to purchase workers’ compensation if they have three or more employees. For sole proprietors, this coverage is optional. If an employee is injured on the job, workers’ comp can help pay for medical fees and lost wages. While real estate professionals are less likely to experience a workplace injury than the national average, injuries can occur in any industry. Real estate agents and brokers most commonly sustain workplace injuries resulting from contact with equipment and falls, slips, and trips, according to data from the Bureau of Labor Statistics.

Business insurance costs for real estate professionals in North Carolina

Despite the state’s favorable cost of living and doing business, real estate agents and brokers in North Carolina can expect their business insurance costs to trend slightly higher than the national median, according to an analysis of Insureon applications. Errors and omissions coverage is typically the most costly in the real estate industry, and North Carolina is no exception. It may be tempting to forgo this policy, as North Carolina state law does not require it. However, any short-term savings could be quickly negated if you are sued without protection. In all, real estate agents and brokers in North Carolina can expect to spend less than $250 per month to secure their small business.

Median Insurance Costs for North Carolina Real Estate Agents

Save time and money with Insureon

Insureon’s industry-leading technology helps real estate agents and brokers in North Carolina save time and money shopping for insurance by comparing policies from dozens of top U.S. carriers. Simply apply online and review quotes for the policies that best fit your business needs. Our insurance specialists are licensed in North Carolina and can answer your questions as you consider coverage.

To make the application go even quicker, have this information ready:

  • Workforce details, such as the number and types of employees.
  • Current and projected revenue.
  • Business partnerships.
  • Insurance history and prior claims.
  • Commercial lease insurance requirements.

Apply for free real estate agent and broker insurance quotes today.