Posted by SFX_ca on 10/20/04 4:28am
Msg #10107

Errors and Omissions

I was just wondering, how many of you who are ONLY notary publics ( as in, not a loan doc specialist or anything like that) have a E&O certificate? Is it unsafe to practice without one? I was unsure, because I wanted to start doing signing asap but wasn't sure about spending the $44 on the E&O. Any advice?

Many Thanks!

Reply by Loretta Reed on 10/20/04 6:41am
Msg #10108

$44 a year is nothing when it comes to what your monthly expenses are going to be.

Reply by PAW Notary Services on 10/20/04 8:18am
Msg #10111

E&O Insurance is only for your notary work. It doesn't make any difference what you are notarizing, be it a loan package, will, POA, transfer of title, college transcript, whatever, the insurance covers only your notarial acts. As a signing agent, your bond and E&O only apply to the handful of documents that are notarized. If you make an error, say on the RTC, you're on your own as this is not covered under your notary insurance.

Reply by Tina Marie Grimes on 10/20/04 3:40pm
Msg #10133

I have E&O insurance. FYI, there are quite a few SS that require their notaries to carry E&O. Like any insurance, you never know when you'll need it. And it's not that expensive.

Reply by JML Lionesse on 10/20/04 8:27pm
Msg #10161

I got my E & O thru the NNA, and it was only $25 a year for $10,000 coverage. I got it because alot of companies require their notaries to have it. Not a bad investment, and definately worth the cost. As they say, better to have it and not need it, than need it and not have it.