Posted by frances arnone on 8/2/11 9:39pm
Msg #392404
E&O
Has anyone ever had to submit a E&O claim and what is the average amount of insurance a notary should have
|
Reply by FlaNotary2 on 8/2/11 9:41pm
Msg #392405
I recommend my students purchase no less n/m
|
Reply by FlaNotary2 on 8/2/11 9:41pm
Msg #392406
I recommend my students purchase no less than $5,000 E&O n/m
|
Reply by John Tennant on 8/2/11 10:01pm
Msg #392407
I live in California (the sue happy state).
I carry $100,000.00. I have never had to use it (knock on wood), but there is a "feel good" feeling knowing that if I really screw up, I have backing.
|
Reply by MW/VA on 8/2/11 10:45pm
Msg #392413
Like many insurance coverage, I hope I never need it but have to have it. XYZ convinced cos. that $100K is required. I carried that amt., but changed this year to Signing Agent E&O. Remember that standard Notary E&O Insurance doesn't cover you as a signing agent. For me, that's where the greater liability is. Remember always that you're insuring yourself. It's about covering legal expenses in the event of a lawsuit.
BTW, I purchase my E&O right here from NotaryRotary. I only renew annually, instead of a four-year term.
Good luck.
|
Reply by Linda_H/FL on 8/3/11 8:09am
Msg #392448
Marilynn, does the SA E&O cover notarial errors or just
SA errors?
|
Reply by Yoli/CA on 8/3/11 10:07am
Msg #392461
Am I missing something?
I get my bonds here at NotRot also - notary bond and E&O. However, nowhere do I see an SA E&O on this site. Where do I find it?
|
Reply by Linda_H/FL on 8/3/11 10:13am
Msg #392462
Yoli, if you go to the home page, there's a 6/10/2010
announcement about it's availability - click on that and you should be directed to where you need to go.
|
Reply by JanetK_CA on 8/3/11 2:56pm
Msg #392506
Only available for 35 states, not including CA n/m
|
Reply by Marian_in_CA on 8/3/11 1:15am
Msg #392433
You should always have enough to cover your bond (if you're required to have one) at the very least. That way, you have a way of paying on a bond... if it's covered by E&O.
In reality, you should also be carrying a general business liability policy...enough to cover the cost of an attorney and lawsuit... but at the very minimum enough to cover your bond.
|
