Insurance: Protecting your deposit

When you work with a registered real estate broker or salesperson, your deposit is protected subject to the terms and conditions of the insurance policy.

All brokers and salespersons are required by law to participate in an insurance program that includes consumer deposit insurance.

The coverage that protects your deposit is available under the insurance program at no cost to you.


Consumer deposit insurance offers protection in the event of fraud, insolvency or misappropriation of funds by a registrant (e.g. a brokerage). There is no deductible under this coverage. However, the insurance policy contains clauses, which may limit the amount payable if there is a loss. The insurance provides coverage up to a maximum of $200,000 per claim. In the event the sum of all claims made by all consumers against a particular registrant related to an occurrence (e.g. a brokerage becomes bankrupt) exceeds $4,000,000, the amount recoverable by each consumer may be pro-rated and limited to a portion of the maximum amount of $4,000,000 of coverage, subject to the terms and conditions of the insurance policy.

What’s not covered

Claims arising as a result of a registered broker or salesperson acting as an executor, administrator, trustee, guardian, conservator, or in any other fiduciary capacity other than as a broker or salesperson are not covered under the policy.

How to make a claim

Information related to making a claim is provided below. Before making a claim you may want to contact RECO’s Insurance Department for more information.

Complete the Consumer Deposit Notice of Claim form, attach all relevant documentation and forward this information to:

Attention: Insurance Department
Real Estate Council of Ontario
3300 Bloor Street West, West Tower, Suite 1400
Toronto, ON Canada M8X 2X2

Phone: 416-207-4800
Toll-free: 1-866-245-6910
Fax: 416-207-9020

Consumer Deposit Insurance – FAQ (PDF)

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