Insurance Facts

Those individuals which have a business which provides professional service to the public can be held liable for errors and omissions. So that you are protected, error and omissions insurance is a must.

A perfect example of someone that should consider carrying errors and omissions insurance is a notary public because this kind of insurance provides coverage as a result of an error having been made in the professional work.

Notary publics very frequently verify signatures for high value property deals. Since we exist in a litigious society, you can’t risk being held responsible for any type of land dealing which has turned bad. You were just doing your assigned job as a notary public.

Identity theft is quickly turning into a growing problem today. Identity fraudsters are such consummate professionals at what they do that he or she may have government circulated driver licenses containing their photograph on the front. In a specific example, the notary was taken to court by both the homeowner as well as the bank, never mind she abided state procedure to make sure the individuals signing were who they said they were.

Many notaries are under the mistaken impression that their job’s insurance, or the employer’s bond, will cover him or her when an error or omission is made, therefore it is important to obtain the correct general liability insurance quotes. The notary commission is assigned to an individual and doesn’t belong to the business. As a result, the notary public can be sued as an individual and on a private charge for whatever mistake, real or perceived, made in the performance of your duty. A few notary publics have been forced to file for personal bankruptcy due to litigation.

In order to avert this kind of a awful circumstance, simply purchase the errors and omissions insurance. The coverage will give you attorneys for your defense and will pay up to the amount agreed upon when the home based business insurance was purchased.

It is simple to commit errors, with no desire to defraud. Conscientious notaries might, at times, be duped via a faked character, or even a government issued identification. Do not let someone else’s lying ruin your personal life.