Posted by michkenn on 9/13/07 2:44pm
Msg #210801

$100,000 E&O insurance

Is this the typical amount that most NSAs carry? I know it depends on a lot of different things, but on average is the question.

I would hope that some people on here have better things to do rather than reply with a sarcastic remark. I've noted that some "veterans" are quick to be sarcastic, rather than be helpful which is a shame because times change and so does business. Hence my asking what the average NSA carries in E&O at this time.

Please, only NICE NSAs reply -- I appreciate your kind responses in advance.

Reply by Linda_H/FL on 9/13/07 2:48pm
Msg #210805

I carry $100K - personal preference to protect my assets (my home).

Reply by dickb/wi on 9/13/07 7:36pm
Msg #210868

don't forget that these e & o policies.....

usually only cover you as a notary not as a signing agent.......you need 2 seperate e & o policies as well as a general liability policy if you want to protect yourself fully.......

Reply by Les_CO on 9/13/07 3:01pm
Msg #210810

I carry $100,000. ($300 000 as ER Broker, mandatory in CO) It costs just a bit more than 25K.

Reply by cntrlcalntry on 9/13/07 3:05pm
Msg #210811

That is what I carry also. n/m

Reply by Signing_Doc on 9/13/07 3:23pm
Msg #210821

If you are planning to talk with Title Companies..they will

require you to have 100K minimum...Harry (here at notrot) has it for the best price and it can be in 1-4 year terms. (Is that nice enough for you?)

"Doc"

Reply by BetsyMI on 9/13/07 5:26pm
Msg #210847

Re: If you are planning to talk with Title Companies..they will

I had $100,000 because one title company required it and then they never gave me one single signing. I'm back to $50K and not one TC has asked me how much E&O I carry.

Reply by Karen/OK on 9/13/07 7:08pm
Msg #210864

Re: If you are planning to talk with Title Companies..they will

That's just what I was wondering. I received an e-mail from National Title Co. asking me to sign up but when I tried to it said that if I did not have $100,000. in E&O not to bother. I have wondered if it would be wise to up mine to $100,000. but I think I'll stay at $50,000.

Reply by Les_CO on 9/13/07 9:15pm
Msg #210884

Re: If you are planning to talk with Title Companies..they will

My $100,000.00 E&O insurance costs me $3.50 a month.

Can't afford that? Want to save some money? I hope you save some BIG bucks!

I would say if you are trying to do this as a business, rather than a hobby, some would think that if you can't afford $3.50 a month, that maybe they should call someone else?