Posted by CaSigner on 7/19/05 5:55pm
Msg #53209

bond renew, when should you start

How soon before your bond/E&O insurance expires should you start the process of renewing? How long does it usually take?

Reply by TinaG_CA on 7/19/05 6:10pm
Msg #53212

Your bond is for 4 years, same as your commission. Your E&O depends on whether it's for 1yr, 2yrs, etc. Check out the Notary Supplies here @ NOTROT, they carry both. Doesn't take long at all.

Reply by Merry_CA on 7/19/05 6:12pm
Msg #53213

Is your commission expiring also? or just your bond and insurance?

Reply by CaSigner on 7/19/05 6:17pm
Msg #53217

My commission doesn't expire for a few years as with my bond., but my e&O expires in December. I wanted to know when I should start looking for a new company or go with the old one. I wasn't sure if it took a month or days.

Reply by TinaG_CA on 7/19/05 6:21pm
Msg #53220

It doesn't take any time at all. Notrot has a good price on 4-year E&O. Check it out.

Reply by CaSigner on 7/19/05 6:30pm
Msg #53222

I saw that but I was looking for 30,000 like I have now.

Reply by TinaG_CA on 7/19/05 9:11pm
Msg #53248

Mine is also with the NNA. Found the coverage and preminum the least expensive. I'd stick with them if you're still a member.

Reply by WF-CA on 7/19/05 6:33pm
Msg #53224

CaSigner--I am an insurance agent as well as a loan signer. You can get a 4 year E&O policy with CNA Surety with a $30,000 limit for $295. A $10,000 policy for 4 years is $35 & $15,000 is $75. These are the CA rates.

Reply by CaSigner on 7/19/05 6:46pm
Msg #53227

Why such a jump in price between 15,000 and 30,000? Thanks for the info. Do they have a website?

Reply by WF-CA on 7/19/05 6:58pm
Msg #53231

The only reason is because the limit is higher. This is usual for insurance! If you have a fax #, I can fax you the application/brochure.

Reply by WF-CA on 7/19/05 6:46pm
Msg #53228

And, the policies only take a few days to be issued by the company

Reply by CaSigner on 7/19/05 6:58pm
Msg #53230

I bought a 30k, 1 year bond through Surety Bonding Co of America for $84.00 last December. That was through the NNA though.

Reply by CaSigner on 7/19/05 6:58pm
Msg #53232

Sorry, I meant E&O policy

Reply by WF-CA on 7/19/05 7:02pm
Msg #53234

Re: Sorry, I meant E&O policy

Yes, I knew that you meant the E&O policy.

Reply by WF-CA on 7/19/05 7:00pm
Msg #53233

Yes, very often the insurance companies will provide a slightly better premium for a program offered by organizations such as the NNA, because the organizations have the opportunity to write many more policies.

Reply by CaSigner on 7/19/05 7:04pm
Msg #53235

thank you

Reply by WF-CA on 7/19/05 7:54pm
Msg #53240

Re: thank you

Sure!