Real Estate Appraiser Insurance Rates
How Much Is Insurance for Real Estate Appraisers?
As a real estate appraiser, your valuations make it easier for parties to buy and sell real estate, resolve inheritance issues, and take out a mortgage. You have a lot of responsibility and risk because of how much money potentially changes hands in these transactions. Small business insurance policies can offer you financial security.
Below, we'll look at four sample insurance quotes that show what a typical real estate appraiser pays for their small business insurance.
Note: These insurance quotes are only estimates. Premiums can vary.
HOW MUCH IS
How Much Is Errors and Omissions Insurance for Real Estate Appraisers?
Real estate appraiser Errors and Omissions Insurance (also called Professional Liability Insurance) can cover lawsuit costs when clients, mortgage brokers, or other third parties sue you over your appraisal. If your valuations turn out to be inaccurate (or someone alleges they're inaccurate), E&O may cover the cost to defend your business from a lawsuit.
Appraisers can find themselves in the middle of a real estate lawsuit if something goes wrong and a closing falls through. Fortunately, E&O Insurance can offer coverage for unexpected professional liability lawsuits.
To see how the cost of Errors and Omissions Insurance for real estate appraisers compares with other industries, visit Insureon's Professional Liability Insurance Cost Analysis .
HOW MUCH IS
General Liability Insurance?
How Much Is General Liability Insurance for Real Estate Appraisers?
Many real estate appraisers sign up for General Liability Insurance (also called slip-and-fall insurance) because it can offer third-party lawsuit coverage for injuries, property damage, accidents, and reputational disputes.
Say you're walking through a property, taking pictures, and documenting any needed repairs. As you take out your camera to snap a shot, you accidentally back into an end table and knock down a vase. It turns out the vase is a priceless heirloom and the property owner sues you for damages. Whether you break a irreplaceable vase or a kitchen window, General Liability Insurance may cover lawsuit costs about property damage.
The typical General Liability Insurance policy for real estate appraisers costs between $425 and $750, right in line with the cost for for small real estate firms in general.
To see how the cost of General Liability Insurance for real estate appraisers compares with other industries, visit Insureon's General Liability Insurance Cost Analysis .
HOW MUCH IS
What Does a Business Owner's Policy Cost?
A Business Owner's Policy can be a smart insurance investment for real estate appraisers. BOPs bundle two important insurance policies: General Liability and Property Insurance. Your Commercial Property Insurance can insure your business's property (not your clients') lost or damaged from theft, fires, vandalism, and some weather damage.
If a tree is uprooted in a windstorm and falls through your office window, BOP Property Insurance can reimburse you for repairs and damaged property. If your camera, computer, tools, equipment, and supplies are stolen from your office, BOPs may cover the cost to replace them.
Real Estate Appraisers Business Owner's Policies typically cost $400 to $1,250 in annual premiums, somewhat lower than the industry average.
Free Insurance Quotes for Real Estate Agencies
Whether you're a certified general appraiser or a newly licensed appraiser just starting your own business, insureon's agents can customize an insurance package for your business. Use our online insurance application and receive a set of free, no-hassle insurance quotes.