What Insurance Do You Need as a Mortgage Broker?

Mortgage Broker

Business insurance is a complex field, so much so that no one insurance company can claim expertise with every single aspect of it. Instead, you see companies that cater to specific fields with unique requirements for coverage, as well as some that offer generic types of insurance needed by many companies across industries, like workers’ compensation and general liability insurance. If you work in a highly regulated field like real estate lending, you need to be sure your coverage is handled by someone who understands mortgage broker insurance requirements.

Liabilities Covered for Brokers

Mortgage broker E&O is a must-have form of insurance for anyone helping to connect buyers with lenders because it covers your liability for accidental omissions and errors when handling the paperwork for clients. For more information about coverage or help selecting the right coverage level, you need to work with a company like https://www.axisins.com who puts educating their customers and prospective clients high on their list of priorities. Insurance companies who help you understand the complexities of your coverage for both mandatory and discretionary insurance types are valuable because they help you develop a robust risk management plan. Make sure you use all the resources at your disposal when making your choice, that way you’ll be ready for whatever comes your way.