Posted by jnew on 7/17/13 9:33am
Msg #477105

E & O offer by email

I received an offer for notary E & O via email this am. They quoted "as low as $825.00" The company name was Foxpoint. Do you think that this insurance will be required in the near future? I am on social security and am limited in the amount I can earn, and this type of expense would be too big for me to sustain, since the SS limits my income until I reach the age of 66. Will this be a part of the tightening up of oversight they have been talking about? The notary rates are being pushed downward and now they want to raise our expenses.

Reply by Linda_H/FL on 7/17/13 9:43am
Msg #477108

Re: E & O offer by email...wow

$825.00 for straight notary E&O? I got mine here, paid $240 for $100,00 coverage for 4 years. I see Wisconsin rates are just under $500 for $100,00 for 4 years.

Are you sure it's just straight notary E&O? That sounds extremely high to me. I'm also very leery of pursuing any of these blast email solicitations offering insurance, but that's just me.

Reply by Malbrough_LA on 7/17/13 9:55am
Msg #477112

Linda hit the nail on the head

Steer clear of the email blasts. Use NR. Just my 2 cents

Reply by Darlin_AL on 7/17/13 10:21am
Msg #477119

Just Rec'd one also

in the junk folder, which has no preview pane (safety). To read it there, click on "properties" and then message source & you can read it w/out opening it. Mine was the $800 for millions of coverage. ha! Curious as I just posted a pretty generic query re benefit of upping coverage a few days ago?

Reply by Christine/OK on 7/17/13 5:49pm
Msg #477212

LIKE!! :D n/m

Reply by Gregory/CA on 7/17/13 1:09pm
Msg #477160

Hmmmmm (E&O Cost Differential)

Linda,

Wow, your (FL) E&O is only $240? That's awesome. I wonder why NR issues such a higher premium ($468) for California.

Reply by Sylvia Freeby on 7/17/13 3:31pm
Msg #477184

Re: Hmmmmm (E&O Cost Differential)

I purchased E&O have paid 850.00 in California. The title companies are now requiring us to have coverage up to a 1M, becuase Cal was hit hard in the mortgage crisis

Reply by Linda_H/FL on 7/17/13 5:18pm
Msg #477204

Sylvia, you do realize you've been taken for a heck

of a ride, don't you? There are a lot of CA notaries posting here and I don't recall anyone saying they MUST have $1M E&O to work for title companies. Most times when that's a lender requirement, the notary is covered under the title company umbrella policy.

If you chose to have $1M in E&O that's your call and your business policy - but it's not required....at least not that I've heard.

Reply by Robert522TX on 7/17/13 12:22pm
Msg #477146

This is not a good offer! I have my E&O for notary and signing agent through Notary Rotary and it was substantially cheaper...around $200 for signing agent and about $50 for the notary E&O

Reply by JanetK_CA on 7/17/13 2:27pm
Msg #477174

It's Signing Agent E&O

(Subject line refers to LindaH's comment above).

I didn't click on any links in that message because I'd never heard of them, but the cost for any kind of E&O insurance will vary greatly from location to location. In fact, NotRot doesn't even offer it in CA. (I haven't really researched to see if it's available elsewhere - but if it is, it's probably very expensive.)

Reply by MW/VA on 7/17/13 12:54pm
Msg #477155

It's spam--just delete it. n/m

Reply by jnew on 7/17/13 11:38pm
Msg #477245

Signing Agent E&O,I have Notary E&O Insurance my mistake n/m