Auto Insurance for Real Estate Agents (How to Save)
If you’re in the market for auto insurance for real estate agents, you may want to consider buying more coverage than state minimum require, especially because of the many discounts available to you.
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UPDATED: Jun 17, 2022
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Table of Contents
- Real estate agents should consider carrying more than their state’s minimum liability requirements for auto insurance coverage
- Certain insurance companies offer specific coverage options for realtors
- In some instances, real estate agents may be eligible for discounts on auto insurance coverage
Real estate agents frequently drive for work. From listings to showings to final closings, realtors are responsible for traveling to countless locations to help their clients and keep up with their work.
Due to specific car insurance laws, real estate agents must carry at least their state’s minimum liability coverage. However, realtors, or anyone who drives a lot for work, should consider additional coverage to ensure they have protection in case of an accident.
Table of Contents
Do real estate agents need car insurance?
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Real estate agents must carry car insurance that meets their state’s standards. Since each state in the U.S. has different requirements for liability insurance, your location depends on how much insurance you need as a realtor.
The table below shows the minimum auto insurance requirement in each state.
States Coverage Types Coverage 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
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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, medical payments, and uninsured or underinsured motorist coverage.
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How much is auto insurance for real estate agents?
Car insurance rates for real estate agents vary depending on several factors. Some of the most common factors that impact a person’s car insurance rates include:
- Age
- Gender
- ZIP Code
- Car make and model
- Marital status
- Driving history
- Credit score
- Coverage types
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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.
States Average Annual
Liability Auto Insurance RatesAverage Annual Full Coverage Auto Insurance Rates
Alabama $394.21 $868.48
Alaska $539.68 $1,027.75
Arizona $508.76 $972.85
Arkansas $394.13 $906.34
California $489.66 $986.75
Colorado $520.04 $981.64
Connecticut $650.94 $1,151.07
Delaware $799.30 $1,240.57
District of Columbia $628.82 $1,330.73
Florida $857.64 $1,257.13
Georgia $557.38 $1,048.40
Hawaii $458.54 $873.28
Idaho $344.29 $679.89
Illinois $446.72 $884.56
Indiana $382.68 $755.03
Iowa $299.18 $702.46
Kansas $358.24 $862.93
Kentucky $529.21 $938.51
Louisiana $775.83 $1,405.36
Maine $338.87 $703.82
Maryland $609.74 $1,116.45
Massachusetts $606.04 $1,129.29
Michigan $795.32 $1,364
Minnesota $456.82 $875.49
Mississippi $460.50 $994.05
Missouri $415.88 $872.43
Montana $386.29 $863.52
Nebraska $364.64 $831.02
Nevada $681.56 $1,103.05
New Hampshire $400.56 $818.75
New Jersey $869.57 $1,382.79
New Mexico $488.03 $937.59
New York $804.51 $1,360.66
North Carolina $359.42 $789.09
North Dakota $298.18 $773.30
Ohio $397.11 $788.56
Oklahoma $461.01 $1,005.32
Oregon $584.13 $904.83
Pennsylvania $499.06 $970.51
Rhode Island $759.80 $1,303.50
South Carolina $527.09 $973.10
South Dakota $300.22 $766.91
Tennessee $413.91 $871.43
Texas $528.75 $1,109.66
Utah $497.53 $872.93
Vermont $343.12 $764.02
Virginia $425.61 $842.67
Washington $596.67 $968.80
West Virginia $491.83 $1,025.78
Wisconsin $374.37 $737.18
Wyoming $321.04 $847.44
National Average $538.73 $1,009.38
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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.
Who offers the best insurance for a real estate agent?
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
- Nationwide
- Travelers
- USAA
- Auto-Owners
- State Farm
- Allstate
- Erie
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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.
Other companies offer specialized commercial coverage that protects full and part-time real estate agents in the event of an accident.
Do realtors need 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.
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Your 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.
Commercial car insurance offers high liability coverage levels and legal protection, but a commercial policy can be costly. So if you’re looking for commercial coverage, you’ll want to shop around to compare competitive rates rather than take the first policy you find.
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Are there discounts on real estate agent insurance coverage?
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.
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Companies offer various discount options, such as:
- Multi-policy
- Multi-car
- Vehicle safety
- New car
- Anti-theft devices
- Defensive driver
- Good driver
- Good student
- Paperless
- Occupation
If you find a company you like, call and speak to a representative to see what auto insurance discounts the company offers.
Auto Insurance for Real Estate Agents: The Bottom Line
If you’re a realtor, you need car insurance and should consider carrying more than your state’s minimum liability limits. While additional coverage — like a full or commercial insurance policy — can be more expensive, shopping around and comparing rates can help you save on coverage.
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Some companies offer discounts and other ways to save for real estate agents. Do some research to see which companies provide the kind of coverage you need at a price that works with your budget.
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.
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Written by
Rachel Bodine |
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Reviewed by
Daniel Walker
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