Professional liability · Real estate agents · Portugal & Spain

Liability insurance for real estate agents

Foreign buyers, luxury property, unlicensed extensions, deposits of hundreds of thousands of euros. A real estate agency answers to clients and third parties for what it tells them and for what it fails to check — and Portuguese law sets a minimum insurance.

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ASF-registered insurance intermediary · Portugal & Spain · Written response in 48–72 business hours

Reviewed by Hugo Gonçalves, Founder & Risk Management Specialist at Adler & Rochefort · Degree in Business Management (University of Hertfordshire) · Ongoing training at the Chartered Insurance Institute (CII), London.

The profession and where the risk sits

The luxury property market in Lisbon, Cascais, Comporta, the Algarve, Madrid, Marbella and Mallorca relies on international buyers who trust the agent to explain a system they do not know. Claims grow out of that trust: areas that do not match, missing occupancy licences, undetected charges, lost deposits.

Information about the property — areas, occupancy licence, unlicensed construction.
Registry position — charges, attachments and title.
Money held — deposits and client funds, where the agency receives them.
Anti-money-laundering — identification and reporting duties.

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Tell us the essentials and we'll come back to you within 48 to 72 business hours — a careful look at your real exposure takes longer than a generic form.

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Leave just the essentials and we reply within 48–72 working hours. We ask for the rest by email.

What we will ask for your quote

After the first contact we ask for these details by email. If you have them to hand, you can send them now to insurance@adlerrochefort.com.

Name
Date of birth
Full address
Driving licence issue date
Registration number

By sending this form you agree to us using your details to prepare and discuss your quote, in line with our privacy policy. We never sell your data. Adler & Rochefort is a trading name of Ownizo, Unipessoal Lda., registered with the ASF under no. 425591790/3.

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What is compulsory in Portugal and in Spain

Portugal

Real estate agencies established in Portugal need a licence from IMPIC and liability insurance with a minimum limit of €150,000 under Lei n.º 15/2013. Agents working for an agency operate under its licence and insurance; the legal minimum rarely matches the value of luxury transactions.

Spain

There is no national licence for real estate agents. Some autonomous communities have created registers with their own requirements: in Catalonia, registration with the Registre d’Agents Immobiliaris requires liability insurance (for agencies with premises, €100,000 per claim and €600,000 a year per establishment) and a guarantee for sums received. Elsewhere, the requirements should be checked region by region.

What the policy should cover

A limit above the legal minimum, matched to the value of the transactions.
Every agent and associate acting for the agency.
Activity in Portugal and Spain, and clients from other countries.
Legal defence and costs of proceedings.
Guarantees or surety cover where the agency holds money, plus crime and cyber cover for payment fraud.

Common mistakes

Keeping only the legal €150,000 while selling multi-million properties.
Opening in Spain without checking the register and insurance required in the region.
No cover for bank-detail fraud when deposits are paid.
Overlooking unlicensed construction — see home insurance and illegal construction.

Frequently asked questions

What insurance must a real estate agency hold in Portugal?

Liability insurance with a minimum limit of €150,000, required by Lei n.º 15/2013 for real estate agencies established in Portugal, alongside the IMPIC licence.

Do individual agents need their own policy?

They normally work under the agency’s licence and insurance. It is worth confirming that the agency’s policy names them and covers what they do.

And in Spain?

There is no national licence. Some communities, such as Catalonia, require registration, liability insurance and a guarantee; each region’s rules should be checked.

Does the policy cover a deposit paid to a fraudster?

Professional liability is not designed for that. Payment fraud is usually covered by crime or cyber insurance with a social engineering extension.