Real Estate Business Insurance Coverage Checklist
The coverages a real estate business business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for real estate investors, owners, property managers, and developers. Priorities reflect typical exposure for this class; confirm against your actual properties, lender requirements, and operations.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Commercial General Liability | Covers bodily injury and property damage from property operations — tenant and visitor injuries in common areas are the most common claim. | Core | |
| Commercial Property (Replacement Cost) | Covers buildings, common areas, and owned assets. Confirm values are current: most commercial buildings appraised in one study were underinsured by 25% or more. | Core | |
| Ordinance or Law | Pays for the undamaged portion, demolition, and code upgrades required after a partial loss — excluded unless added to the property policy. | Core | |
| Loss of Rents / Business Income | Replaces rental income while a damaged property is rebuilt; lenders commonly require 12 months. | Core | |
| Umbrella / Excess Liability | Adds limits for severe or multi-claim losses; real estate verdicts over $10 million are increasingly common. | Core | |
| Directors & Officers (D&O) | Protects boards, managers, and members from claims over governance, budgeting, and investment decisions. | Prevalent | |
| Commercial Flood / Catastrophe | Covers flood, named storm, wind, wildfire, or earthquake — usually excluded or limited on standard property policies. | Situational | |
| Employment Practices Liability | Covers claims by on-site managers, maintenance, and leasing staff when the business has employees. | Situational | |
| Builder's Risk | Covers projects under construction or major renovation, including soft costs and delay in opening. | Situational | |
| Property Management Errors & Omissions | Needed when managing properties for third-party owners — covers errors in leasing, rent collection, and management duties. | Situational | |
| Cyber / Privacy Liability | Covers tenant and applicant data — screening reports, bank information, and online payments. | Situational | |
| Workers' Compensation | Required in most states once the business has employees; maintenance staff face lifting, ladder, and tool injuries. | Situational |
The coverage gap most often missed
The two gaps that most often surprise real estate owners are inadequate valuation and missing ordinance or law coverage. Building values drift as construction costs rise — a Kroll study found 68% of commercial buildings appraised were underinsured by at least 25% — and coinsurance can cut a claim payment further. Older buildings add a second problem: after a partial loss, code can require demolishing the undamaged portion and rebuilding to current standards, which a standard property policy excludes unless ordinance or law coverage is added. Confirm current replacement-cost values and ordinance or law limits on every building.
Send us the checklist and we'll review your real estate business coverage line by line, then market it across multiple carriers that compete for your account.
Related: Real Estate Business Insurance · Real Estate Business Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a real estate business business need?
The core coverages for a real estate business business are Commercial General Liability, Commercial Property (Replacement Cost), Ordinance or Law, Loss of Rents / Business Income, Umbrella / Excess Liability. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my real estate business coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.