Real Estate Rental and Leasin
- NAICS Code 53 - For Commercial Insurance

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Learn about Real Estate Rental and Leasing - NAICS Code 53 - For Commercial Insurance. Insurance companies use NAICS codes to classify your industry and calculate your premiums. See all the six digit codes that fall under this primary NAICS class code for business insurance underwriting and cost purposes.

Real Estate Rental and Leasing - NAICS Code 53 - For Commercial Insurance

Real Estate Rental and Leasing - NAICS Code 53 - For Commercial Insurance

What's the best way to describe your company's business operations? Are you involved in the Real Estate Rental and Leasing industry?

If so, then your business classification falls under Real Estate Rental and Leasing - NAICS Code 53 - For Commercial Insurance. Insurance companies use NAICS codes to identify customers by industry code.

The NAICS sector code is a six digit number: the first two digits designate the largest business sector, the third digit designates the subsector, the fourth digit designates the industry group, and the fifth digit designates particular industries. The last digit designates national industries.

Sector 53 - Real Estate Rental and Leasing - NAICS Manual

The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks.

This sector also includes establishments primarily engaged in managing real estate for others, selling, renting and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector's main activity, and from a production basis they are included here. In addition, a substantial proportion of property management is self-performed by lessors.

The main components of this sector are the real estate lessors industries (including equity real estate investment trusts (REITs); equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works).

Excluded from this sector are establishments primarily engaged in renting or leasing equipment with operators. Establishments renting or leasing equipment with operators are classified in various subsectors of NAICS depending on the nature of the services provided (e.g., transportation, construction, agriculture). These activities are excluded from this sector because the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment.

How NAICS Classifications Effects Your Commercial Insurance Cost

But how does your Real Estate Rental and Leasing - NAICS Code 53 - For Commercial Insurance classification affect your premiums and insurance cost? Insurance companies selling commercial insurance use NAICS codes in many ways - to analyze and classify the businesses they insure, or choose not insure. Some small business NAICS code classifications can result in you paying higher premiums for your business insurance. It is important that your business is classified properly.

Industry codes help insurers with several analytical processes involving marketing, underwriting, exclusions, loss control, forms, pricing and other operations. Let's look at some of the the NAICS codes under your classification.

NAICS Structure

Following is a list of all the codes and titles. If the title is linked you can drill down for more information:

Real Estate Rental and Leasing - NAICS Code 53 - For Commercial Insurance

We hope this information on Real Estate Rental and Leasing - NAICS Code 53 - For Commercial Insurance has been helpful. Your classification determines how much you pay for your commercial insurance and much more.

More NAICS Sector Codes

Agriculture, Forestry, Fishing and Hunting, Mining, Utilities, Construction, Manufacturing, Wholesale Trade, Transportation and Warehousing, Information, Finance and Insurance, Real Estate Rental and Leasing, Professional, Scientific, and Technical Services, Management of Companies and Enterprises, Administrative and Support and Waste Management and Remediation Services, Educational Services, Health Care and Social Assistance, Arts, Entertainment, and Recreation, Accommodation and Food Services, Other Services (except Public Administration), Public Administration

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