Workers Compensation in Real Estate

What to Know

This industry includes real estate sales and rental, as well as other rental-based businesses.
Jobs in this industry are typically office jobs with a low level of risk.
Certain states allow real estate agents to be exempt from workers’ compensation coverage. If you are paid on commissions only, check with your state if you need to be covered.

Potential Hazards

Muscle strains, slip-and-fall injuries, carpal tunnel syndrome and other repetitive stress injuries are the most commonly cited claims in office settings.
Workers’ compensation insurance covers wage replacement and medical bills for employees injured on the job. To protect against other injuries at your place of business, you may need general liability insurance. Learn more about general liability >>

About Work Class Codes

Many businesses have several work class codes that describe what their employees do. It’s important to classify each group of employees accurately because it could alter your premium dramatically.

Real Estate Work Class Codes

Real estate agency
Apartment leasing
Banquet hall rental
Self-storage rental
Car rental
Formalwear rental
Appliance & furniture rental

Other Tips

If you employ workers in multiple states or your employees are temporarily working out-of-state, you need to purchase insurance for all the states where your workers are located, according to each state’s laws.

The nature of your business, number of employees being covered and past coverage and claims are all factors in how much your premium will cost.

Learn more about workers’ comp insurance rates >>

Here's What You Need to Get Started

To buy workers compensation insurance, you need to request a quote from a licensed insurance agent and provide some details about your business.

Here’s what to have in front of you:

Number of employees in each class code.
Total payroll for all employees. You may be able to exclude yourself if you don't wish to be covered under the policy.
Federal ID Number. If you are a sole proprietor, you can use your Social Security Number.
Copy of your workers comp insurance policy, if you've had coverage or claims in the past few years. If you know your company's experience mod, please have your experience mod rating sheet or policy in front of you. Otherwise, you will be assigned a default rating of 1.0.