Notary public coverage
Notary public coverage is a type of professional liability insurance that protects notaries against financial loss from lawsuits alleging errors or omissions during notarizations. Insurers like Hiscox, CNA Surety, and Merchants Bonding Company offer policies that cover legal defense costs, settlements, and judgments up to specified limits such as $25,000 or $100,000 per claim, as stated by YourInsurance.info.
This coverage excludes intentional fraud and criminal acts but includes claims for accidental mistakes like failing to verify signers’ identities on loan documents. Policyholders typically pay annual premiums ranging from $30 to $120 depending on limits and location.
Most states, including California and Texas, do not legally require notaries to carry this insurance but strongly recommend it for risk mitigation. Notary bonds differ by guaranteeing payment to parties harmed by the notary’s misconduct, while insurance protects the notary personally.
Claims process requires prompt notification to the carrier–examples include allegations of improper witnessing or unintentional omission in mortgage notarizations. Carriers often set aggregate annual limits–$50,000 being common–and may impose deductibles between $0 and $500 per claim.
Some endorsements extend coverage to mobile notarial acts performed outside an office, such as real estate closings at client homes. Notaries with prior claims or disciplinary actions may pay higher premiums or face exclusions from carriers like Travelers and State Farm.
Coverage typically follows a “claims-made” format; only acts reported while the policy is active are covered unless tail coverage is purchased.
What is errors and omissions (E&O) insurance for a notary?
Errors and Omissions (E&O) insurance is a professional liability insurance policy that offers protection for notaries against negligent acts, errors, or omissions in their professional services. It helps to safeguard against claims of financial loss resulting from any mistake made while performing notary duties. This type of coverage provides defense costs if the insured is…
What is Notary E&O insurance?
Notary E&O Insurance is a type of insurance specifically designed to protect Notaries Public from financial loss due to errors, omissions or negligence in the performance of their duties. This type of insurance provides coverage for claims alleging incorrect advice, fraud, dishonesty and more. It also covers legal defense costs associated with defending against any…
Do I need notary insurance?
Yes, you should consider notary insurance to protect yourself from any potential liability related to your work as a Notary. Notary insurance provides coverage for errors and omissions that can occur in the course of performing your duties as a Notary Public. It will cover legal expenses associated with defending yourself against claims resulting from…
Do I need errors and omissions (E&O) insurance as a notary?
Yes, Errors and Omissions (E&O) Insurance is an important part of protecting yourself as a Notary. E&O insurance provides coverage in the event that you are found liable for errors or omissions resulting from your notarization services. It can also provide reimbursement for defense costs should a legal dispute arise due to mistakes made while…
See also Notary Public Insurance.