Any business that provides professional services should have errors & omissions insurance to protect their personal assets.
Notaries Public should be sure that they also have errors and omissions insurance. This insurance offers coverage in the event of a mistake being made in your professional work.
The work of a notary can often involve multi-million dollar transactions. In today’s world where the answer to every problem is to sue someone, you do not want to be held responsible for a mistake that was made in good faith when providing a notary service.
Anyone can file a lawsuit against you for any reason. The legal fees can become overwhelming. In one case a notary was sued for notarizing a document for identity thieves. The ID thieves had state issued drivers licenses with their pictures. The bank and homeowner sued the notary for errors and omissions. This insurance will cover legal charges as well as the specified amount of any losses.
Many notaries are under the mistaken impression that their employers insurance or their bond will cover them when an error or omission is made. The notary commission belongs to a person and not to the company. Therefore, you can be sued as a person and on a personal level for any mistake real or perceived, made in the performance of your duty. Some notaries have had to file personal bankruptcy due to a lawsuit.
A better way is to pay the small fee to purchase errors and omissions insurance. The insurance company will provide lawyers for your defense and will pay up to the amount agreed upon when the insurance was purchased.
Anyone can make an error. These errors or omissions can cause you to lose your home or other property. Protect yourself and your family through errors & omissions insurance. The cost for such security is very little, and in the event of an error or omission, you will be glad that you have purchased this insurance.
Search for insurance for small business online to save time and money. For example, you can find E&O insurance providers online and they will provide you with free quotes for coverage.
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