A Florida notary public with errors and omissions (E&O) insurance is protected from professional liability. These policies help save you from out-of-pocket costs if you make a notarization mistake. Without it, you may face costly legal defense fees or notary bond repayments. Can you afford a lawsuit?
Such policies protect against things like:
Read on to learn more about these types of insurance policies, their purpose and where to get one.
After paying a one-time premium, you become protected from expenses related to settlements, judgments, attorney fees and court costs. The total coverage amount depends on the policy's coverage limit.
Here's an example:
One of your previous clients thinks you made a notarization error and files a claim against your surety bond. After working with the bond company and a lawyer, the case is settled out of court.
Your bond provider pays the client a $5,000 settlement, and the lawyer charges $5,000 for legal services. Your bond agreement likely states that you must repay the $5,000.
Without this insurance, you'd have to pay $10,000 (bond repayment plus legal fees) out of your own pocket. However, a $15,000 E&O policy would cover both expenses.
Get protection for the full term of your Commission.
If you've decided it's worth getting some liability protection, we can help. We offer affordable insurance policies underwritten by the Travelers Indemnity Company.
Our options fit any budget, with premiums starting at $40 for $10,000 coverage. Policies are valid for your entire four-year commission term with no deductible or loss repayment.
Your surety bond required by the Florida Department of State doesn't protect you, the notary. It protects the public from notarization mistakes that cause financial loss.
Legitimate claims filed against your $7,500 bond mean the bond provider pays the claimant. After that, you'll probably need to pay that amount back.
If you're facing a claim made against your bond and need to defend yourself, these tips can help you get the most out of your errors and omissions policy:
Our policies provide liability protection for Florida notaries. This is the best time to purchase liability insurance, before someone files a claim against your bond. Secure your future as a notary today!
