Auto Insurance for Real Estate Agents (2024)
Auto insurance for real estate agents is relatively affordable, especially if you get liability-only coverage. However, you might want to consider full coverage auto insurance for real estate agents. Below, you can learn more about finding affordable car insurance for realtors from companies such as Geico.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
UPDATED: Oct 15, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 15, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Real estate agents should consider carrying more than their state’s minimum liability requirements for car insurance
- Certain insurance companies offer specific coverage options for realtors
- In some instances, real estate agents may qualify for auto insurance discounts
Due to specific auto insurance laws, real estate agents must carry at least their state’s minimum liability coverage, especially since they frequently drive to showings and final closings.
However, realtors, or anyone who drives a lot for work, should consider additional real estate agent insurance to ensure they have protection in case of an accident. For example, full coverage auto insurance for real estate agents helps pay for their vehicle damages and medical expenses after an accident.
Below, you can learn more about real estate agent auto insurance requirements, how to get cheap car insurance for real estate agents, and the benefits of adding a broker to auto insurance coverage.
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Real Estate Agent Auto Insurance Requirements
Real estate agents must carry auto insurance that meets their state’s standards. Since each state in the U.S. has different requirements for liability auto insurance, location is one of the many factors that affect auto insurance rates for realtors.
The table below shows the minimum auto insurance requirement in each state:
Minimum Auto Insurance Coverage Requirements by State
States Coverages Limits
Alabama Bodily injury and property damage liability 25/50/25
Alaska Bodily injury and property damage liability 50/100/25
Arizona Bodily injury and property damage liability 15/30/10
Arkansas Bodily injury and property damage liability; personal injury protection 25/50/25
California Bodily injury and property damage liability 15/30/5
Colorado Bodily injury and property damage liability 25/50/15
Connecticut Bodily injury and property damage liability; uninsured/underinsured motorist protection 25/50/20
Delaware Bodily injury and property damage liability; personal injury protection 25/50/10
Washington, D.C. Bodily injury and property damage liability; uninsured/underinsured motorist protection 25/50/10
Florida Property damage liability and personal injury protection 10/20/10
Georgia Bodily injury and property damage liability 25/50/25
Hawaii Bodily injury and property damage liability; personal injury protection 20/40/10
Idaho Bodily injury and property damage liability 25/50/15
Illinois Bodily injury and property damage liability; uninsured/underinsured motorist protection 25/50/20
Indiana Bodily injury and property damage liability 25/50/25
Iowa Bodily injury and property damage liability 20/40/15
Kansas Bodily injury and property damage liability; personal injury protection 25/50/25
Kentucky Bodily injury and property damage liability; personal injury protection; uninsured/underinsured motorist protection 25/50/25
Louisiana Bodily injury and property damage liability 15/30/25
Maine Bodily injury and property damage liability; uninsured/underinsured motorist coverage; medical payments 50/100/25
Maryland Bodily injury and property damage liability; personal injury protection; uninsured/underinsured motorist coverage 30/60/15
Massachusetts Bodily injury and property damage liability; personal injury protection 20/40/5
Michigan Bodily injury and property damage liability; personal injury protection 20/40/10
Minnesota Bodily injury and property damage liability; personal injury protection; uninsured/underinsured motorist coverage 30/60/10
Mississippi Bodily injury and property damage liability 25/50/25
Missouri Bodily injury and property damage liability; uninsured/underinsured motorist coverage 25/50/25
Montana Bodily injury and property damage liability 25/50/20
Nebraska Bodily injury and property damage liability; uninsured/underinsured motorist coverage 25/50/25
Nevada Bodily injury and property damage liability 25/50/20
New Hampshire Financial responsibility only 25/50/25
New Jersey Bodily injury and property damage liability; personal injury protection; uninsured/underinsured motorist coverage 15/30/5
New Mexico Bodily injury and property damage liability 25/50/10
New York Bodily injury and property damage liability; personal injury protection; uninsured/underinsured motorist coverage 25/50/10
North Carolina Bodily injury and property damage liability; uninsured/underinsured motorist coverage 30/60/25
North Dakota Bodily injury and property damage liability; personal injury protection; uninsured/underinsured motorist coverage 25/50/25
Ohio Bodily injury and property damage liability 25/50/25
Oklahoma Bodily injury and property damage liability 25/50/25
Oregon Bodily injury and property damage liability; personal injury protection; uninsured/underinsured motorist coverage 25/50/20
Pennsylvania Bodily injury and property damage liability; personal injury protection 15/30/5
Rhode Island Bodily injury and property damage liability 25/50/25
South Carolina Bodily injury and property damage liability; uninsured/underinsured motorist coverage 25/50/25
South Dakota Bodily injury and property damage liability; uninsured/underinsured motorist coverage 25/50/25
Tennessee Bodily injury and property damage liability 25/50/15
Texas Bodily injury and property damage liability; personal injury protection 30/60/25
Utah Bodily injury and property damage liability; personal injury protection 25/65/15
Vermont Bodily injury and property damage liability; uninsured/underinsured motorist coverage 25/50/10
Virginia Bodily injury and property damage liability; uninsured/underinsured motorist coverage 25/50/20
Washington Bodily injury and property damage liability 25/50/10
West Virginia Bodily injury and property damage liability; uninsured/underinsured motorist coverage 25/50/25
Wisconsin Bodily injury and property damage liability; uninsured/underinsured motorist coverage; medical payments 25/50/10
Wyoming Bodily injury and property damage liability 25/50/20
As you can see, while each state has requirements for bodily injury liability and property damage coverage, some states require drivers to carry additional insurance for personal injury protection (PIP) auto insurance, medical payments, and uninsured or underinsured motorist coverage.
Real Estate Agent Auto Insurance Cost
Rates for adding a real estate broker to auto insurance vary depending on several factors. Some of the most common factors that impact real estate agent insurance cost include:
- Age
- Gender
- ZIP Code
- Car make and model
- Marital status
- Driving history
- Credit score
- Coverage types
While having one of the best cars for realtors — like a Honda Civic — can help you save on car insurance coverage, the coverage type you carry will likely impact your rates more than anything else.
The following table shows the difference in auto insurance rates between a liability insurance policy and a full coverage policy:
Liability vs. Full Coverage Auto Insurance Rates by State
States Monthly Liability Rates Monthly Full Rates
Alabama $33 $72
Alaska $45 $86
Arizona $42 $81
Arkansas $33 $76
California $41 $82
Colorado $43 $82
Connecticut $54 $96
Delaware $67 $103
District of Columbia $52 $111
Florida $71 $105
Georgia $46 $87
Hawaii $38 $73
Idaho $29 $57
Illinois $37 $74
Indiana $32 $63
Iowa $25 $59
Kansas $30 $72
Kentucky $44 $78
Louisiana $65 $117
Maine $28 $59
Maryland $51 $93
Massachusetts $51 $94
Michigan $66 $114
Minnesota $38 $73
Mississippi $38 $83
Missouri $35 $73
Montana $32 $72
Nebraska $30 $69
Nevada $57 $92
New Hampshire $33 $68
New Jersey $72 $115
New Mexico $41 $78
New York $67 $113
North Carolina $30 $66
North Dakota $25 $64
Ohio $33 $66
Oklahoma $38 $84
Oregon $49 $75
Pennsylvania $42 $81
Rhode Island $63 $109
South Carolina $44 $81
South Dakota $25 $64
Tennessee $34 $73
Texas $44 $92
Utah $41 $73
Vermont $29 $64
Virginia $35 $70
Washington $50 $81
West Virginia $41 $85
Wisconsin $31 $61
Wyoming $27 $71
National Average $45 $84
Since full coverage can cost several hundred dollars more than a liability insurance policy, it’s essential to shop around and see who can offer you the best deal on coverage.
Best Auto Insurance Companies for Real Estate Agents
You’ll need to shop online to determine which company offers the coverage you want at a price that works with your budget. Some companies are known for providing competitive rates to realtors. The most common auto insurance companies that real estate agents use include:
- Geico Auto Insurance
- Nationwide Auto Insurance
- Travelers Auto Insurance
- USAA Auto Insurance
- Auto-Owners Auto Insurance
- State Farm Auto Insurance
- Allstate Auto Insurance
- Erie Auto Insurance
Some of the companies listed above offer discounts specifically for realtors. For example, SafePilot offers USAA real estate agent discounts that can save them up to 20% off their auto insurance policies. Read our USAA SafePilot review to learn more.
Other companies offer specialized real estate agent commercial insurance to cover them after an accident.
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Real Estate Agents and Commercial Auto Insurance
While there isn’t real estate agent insurance for vehicles, many realtors rely on commercial auto insurance policies to protect them from liabilities associated with car accidents while on the job.
Your personal car insurance policy may not cover you if you’re in an accident while driving for work. If that’s the case, you’ll need a commercial car insurance policy. Read more about the best commercial auto insurance companies for realtors.
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Commercial car insurance offers high liability coverage levels and legal protection, but a commercial policy can be costly. So if you need commercial car insurance for rewal estate agents, you’ll want to shop around to compare competitive rates.
Auto Insurance Discounts for Real Estate Agents
There are plenty of discounts available for real estate agents, depending on the car insurance company you’re considering. However, if you want a discount specifically for being a realtor, you’ll have to research companies in your area that offer savings for realtors.
Companies offer various discount options, such as:
- Multi-policy
- Multi-vehicle auto insurance discount
- Vehicle safety
- New car auto insurance discount
- Anti-theft devices
- Defensive driver auto insurance discount
- Good driver auto insurance discount
- Good student auto insurance discount
- Electronic automatic billing auto insurance discount
- Occupation
If you find a company you like, call and speak to a representative to see what auto insurance discounts the company offers and learn how to save money by bundling insurance policies.
Getting Cheap Auto Insurance Coverage for Realtors
If you’re a realtor, you need car insurance and should consider carrying more than your state minimum auto insurance requirements. While additional coverage — like a full or commercial insurance policy — can be more expensive, shopping around and comparing rates can help you save on car insurance for real estate agents.
The best auto insurance companies offer discounts and other ways to save for real estate agents. Do some research to see which companies provide the types of auto insurance coverage you need at a price that works with your budget.
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Frequently Asked Questions
Why do real estate agents need auto insurance?
Real estate agents often use their personal vehicles to meet clients, show properties, attend meetings, and run various errands related to their profession.
Car insurance for real estate agents provides coverage after accidents, property damage, or injuries that occur while using their vehicles for business purposes.
Do real estate agents need commercial auto insurance?
Personal auto insurance may not provide sufficient coverage for real estate agents when they use their vehicles for business purposes. We recommend agents to consider a commercial auto insurance policy or a business use endorsement to ensure adequate coverage for their professional activities.
What does commercial auto insurance cover?
Commercial auto insurance for realtors usually includes bodily injury liability (BIL) auto insurance, property damage liability, collision coverage, comprehensive coverage, medical payments, and uninsured motorist (UM) coverage.
What is a business use endorsement?
A business use endorsement, also known as a business use classification, is an add-on that extends coverage for business-related activities. It provides coverage for occasional business use of a personal vehicle but may have limitations and may not offer the same level of protection as a full commercial auto insurance policy.
Are there any specific considerations for real estate agents’ auto insurance?
Does annual mileage affect auto insurance rates? Real estate agents should consider the mileage they drive for business purposes, whether they transport clients, if they use their vehicles for advertising purposes (e.g., vehicle wraps), and if they have any equipment or tools permanently installed in their vehicles.
These factors impact realtor insurance rates and the coverage types you need.
Can I add my real estate brokerage as an additional insured on my auto insurance policy?
Some insurers may allow adding a real estate broker to auto insurance as an additional insured, giving them limited coverage after an accident while you conduct business for them. However, this may vary depending on the insurance provider, so it’s important to check with your company.
Are there any pros to having commercial auto insurance as a real estate agent?
Some pros of having commercial auto insurance include broader coverage for business activities, higher liability limits, coverage for rental or borrowed vehicles, coverage for equipment or tools permanently installed in your vehicle, and potential tax benefits associated with business-related insurance expenses.
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Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Daniel Walker
Licensed Auto Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Auto Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.