Posted by nc_notary on 7/9/04 10:16am
Msg #4136

E & O Ins.

I apologize if this question has already been asked, but I did a search on the forum to no avail for previous posts. I was wondering if perhaps some of you could point me in the right direction to a good E & O ins. co. I've done many searches online, & to be honest they are mainly confusing. The companies seem to aimed towards different types of business's & I have seen none that even mention notaries. I am obviously VERY new, & just don't know exactly what I should be looking for. I read in Victoria Ring's book ( whom I know has been criticized here before, but I had already bought the book.)she suggests getting E & O through the NSA, I am a little weary because she promotes them sooo much in her book, it's a little hard to believe she doesn't benefit from it. Either way i would REALLy appreciate a push in the right direction . Thank you so much for any help you can provide .
Beky

Reply by Sylvia_FL on 7/9/04 10:19am
Msg #4137

I got mine through the bonding company who I renewed my commission with.

If you are a member of the NNA signing agent section, check out their prices for E&O. In the meantime I will check and see who issued my E&O insurance and if they have a website.

I am so glad you are getting E&O insurance, very wise move - get the maximum you can

Reply by Stephanie/CA on 7/9/04 11:19am
Msg #4141

I got my e&o Insurance through the NNA.
The policy is for $100,000 and the premium was $156.
I didn't shop around for a better price, although I would presume one can purchase a high coverage policy for less.
As Sylvia indicated, be sure to get the maximum.

Stephanie

Reply by nc_notary on 7/9/04 11:23am
Msg #4142

Thank you both for your responce, I certainly plan on getting the most available to be, especially being new. Thank you again.
Beky

Reply by Bobbi in CT on 7/9/04 2:15pm
Msg #4163

E & O Ins. for notarizations only ...

Remember, the E&O policy that you get through most companies is for notarial errors only. It will NOT cover you for "signing agent" errors; i.e., anything outside of your duties as a Notary Public. There have been other posts about the type of insurance you should get to cover you for the signing agent part of your business (i.e., general business insurance).

Reply by CarolynCO on 7/9/04 4:30pm
Msg #4171

As with car insurance, each state must have different E&O premiums. I got $100,000 E&O through the NNA and my yearly premium is only $80. I actaully wanted more than $100,000, but that's their limit.