Mortgage Broker Insurance

You can save up to 25% in discounts on business insurance.*

Choose your primary coverage to get started:

Professional Liability

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General Liability

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Workers' Compensation

Commercial Property

Other Coverages

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Mortgage broker insurance designed to protect your business

NEXT Insurance is a one-stop shop to help you get the mortgage broker insurance you need to protect your business from accidents, injuries, legal fees and damaged vehicles. Our insurance packages typically include:

General liability
Errors & omissions
Commercial auto
Workers’ compensation
Commercial property

We’ll help you get the business insurance coverage you need

It’s all about managing your risk. See the different policies available for mortgage brokers and save up to 10% when you bundle two or more of our policies.

General Liability

Protection for the injuries, accidents and damage you cause

General liability insurance covers a wide range of mortgage brokerage accidents and basic risks. You’ll have financial protection if someone other than an employee gets hurt or you are held responsible for damaging property that doesn’t belong to you. It’s often required by clients and licensing agencies.

general liability can help you pay for:

Medical payments

Property damage

Legal fees and judgments

Real Estate E&O

Coverage against business mistakes and claims of negligence

Errors and omissions insurance (also known as professional liability) helps you defend yourself if you’re accused of making a mistake that causes someone to lose money. For example, if you are accused of recommending a certain lender in exchange for personal benefits, it could help cover related expenses to defend yourself or address the problem.

professional liability can help you pay for:

Professional negligence (actual or alleged)

Legal defense costs

Legal judgments

Commercial Auto

For business owners who own or drive vehicles

Most states require commercial auto insurance for business-owned vehicles to help pay for medical expenses and property damage. Personal auto insurance usually won’t provide coverage if you rear end another vehicle at a stoplight on your way to a client meeting.

commercial auto can help you pay for:

Medical expenses

Collision repairs

Rental reimbursement

Workers' Compensation

For business owners who hire employees

Workers’ compensation insurance can help pay for medical care and lost wages after a workplace injury. It’s almost always required if you have employees. Choose business owner’s coverage with your policy to protect yourself.

workers compensation can help you pay for:

Medical expenses

Lost wages

Employer liability

Commercial Property

For business owners who own or rent physical spaces

Commercial property insurance can help protect your business equipment, inventory and even the building itself if you own it. If your business property is damaged due to a covered event, such as a burst water pipe or fire, property insurance can help with replacement costs or repairs.

commercial property can help you pay for:

Damaged equipment and inventory

Lost income

Operating expenses

You can save up to 25% in discounts on mortgage broker insurance

You can pay for your insurance monthly or annually and you can cancel instantly at any time.

Basic

Lowest Price

Commercial Auto

Combined single limit

$85,000

General Liability

Per occurrence

$500,000

Workers’ Comp

Per accident

$100,000

Commercial Property

Per occurrence

$25,000

Pro

How much does mortgage broker insurance cost?

Mortgage broker insurance costs vary based on the risks that your business faces, such as:

The types of properties your clients are buying
Where those properties are located
Your payroll and the kinds of jobs your employees do
The number and types of vehicles you use at work

Learn more about mortgage broker insurance costs and coverage.

Mortgage broker insurance requirements

Mortgage brokers are almost always required to have insurance due to the risk of injury to clients and damage to property. You might need insurance to:

Start working with clients. Clients and local governments might ask you to have active insurance — usually general liability or workers’ compensation.
Hire employees. Most states require workers’ compensation.
Drive for business purposes. Business-owned vehicles typically need commercial auto insurance.
Repair or replace property you own or rent. Protect your inventory, equipment and even the building that you lease or own.

Frequently asked questions about business insurance

Here are some of the most common questions we get about mortgage broker insurance. If you don’t find the answers you need here, our licensed, U.S.-based insurance advisors are standing by to help via online chat or phone.

How does business insurance protect mortgage brokers?

Our affordable mortgage broker insurance packages are designed to protect your business from a variety of risks and help you save money to grow your business. You’ll be protected from financial losses related to:

Damage to someone’s property

You spill coffee on a client’s cell phone during a meeting. The general liability coverage in your insurance package would help pay for a replacement.

Accidents that hurt someone

A client trips over a garbage can in your office and injures their ankle. Your general liability coverage would also come into play here by helping to pay for medical costs and legal fees.

Professional mistakes

You forget to submit important documents to a lender on behalf of your client. E&O coverage (also known as mortgage broker professional indemnity insurance) could pay for some of the expenses to defend yourself, even if the accusation is untrue.

Workplace injuries

You slip on a wet floor in your office lobby and break your wrist. Workers’ compensation coverage can help cover medical bills and lost wages — not to mention it’s usually required by law if you have employees.

Injuries and damage involving your business vehicles

You slide on an icy road and hit a parked car while driving your work vehicle. Commercial auto coverage will help pay for the repairs. This coverage is also usually required by law for business-owned vehicles.

Damage to your own property

A window in your office is shattered by a fallen branch during a storm. Commercial property insurance can help with replacement or repair costs if your owned or leased property is damaged due to a covered event, such as a burst water pipe, fire, tornado or vandalism.

What do I need to get an insurance quote online?

It takes about 10 minutes to get a consultant business insurance quote online with NEXT. We’ll ask a few questions about your business — like what you do, your location, how many people you employ and the vehicles you use for work. You’ll choose your options and see prices. If you like what you see, you can buy online and get a certificate of insurance (proof of insurance) on the spot.

How can I get a certificate of insurance (COI)?

Once you have a NEXT policy, you’ll have instant access to your certificate of insurance 24/7 via web or app. Log in to your account and download your COI instantly or have it delivered via email or text at no additional cost. Get unlimited certificates and add an additional insured as you need them. Make changes to your coverage and your COI updates automatically.

How do you file an insurance claim with NEXT?

If you’re a policyholder, simply log in to your account and file a claim. We will contact you shortly after you submit to go over the details. Our support team is standing by to help.

Next Insurance, small business insurance

Coverage on-the-go for policyholders

Manage your policies, send and create certificates of insurance, or file a claim with our app.

More professions that are covered by NEXT

Real Estate Broker, Home Inspectors, Real Estate Appraisal, Estate Liquidator, Makerspace, Mortgage Broker, Property Management, Real Estate Agent, Real Estate Investor

* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.