E&O Insurance Premiums
Individual Notary Public Limits and Term Premiums
$5,000…….$38/5-year premium.
$10,000…..$63/5-year premium.
$25,000…..$94/5-year premium.
$50,000…..$188/5-year premium.
$100,000…..$375/5-year premium.
Blanket Notary Public Limits and Term Premiums
$5,000…….$7.50 annually per Notary.
$10,000…..$12.50 per annum per Notary.
$25,000…..$18.75 annually for each Notary.
$50,000…..$37.50 annually per Notary.
$100,000…..$75 annually per Notary.
Are you protected?
Notary E&O Insurance is essentially “liability” coverage designed to protect your personal and professional assets in the event you make a mistake as a Notary that causes your client to suffer financial loss.
The CBA provides E&O insurance through respected insurer RLI.
It wasn’t the notary’s fault, but it cost him $11,500 anyway.
In a litigious society like ours, where territory plays a part, the penalty for court damages was $8,000 at that time. The notary, being a public official, was responsible for ensuring fairness, but in this case, they failed to detect the forged signatures. Unfortunately, there was no way for the notary to know about the fraudulent signatures, as it was a routine transaction.
LUCKILY, WE HAVE THE AREA COVERED.
No one can predict if you will ever encounter a scenario similar to the one recently mentioned. However, as a notary, you are at risk. It is crucial to have someone supporting you in case you are confronted with a legal action, especially considering the significant monetary judgments being imposed on notaries, which can reach tens of thousands of dollars.
RLI does not require a deductible.
One expense that you will never have to worry about is the possibility of being sued. Even if you are sued, you can relax knowing that our policy covers up to $30,000 in legal costs and damages, with every dollar being paid by us. We prioritize the protection of our clients from the very first dollar of damages. Now, you might be wondering why exactly we do that.
NO EXTENSIVE EXCEPTIONS.
We take pride in offering the most comprehensive coverage in the industry, ensuring that you are reassured equally. Our job is to protect you in case of a claim, freeing you to do your job.
WE COVER THE EXPENSES OF DEFENSE.
You will have to pay for defense without coverage, to protect yourself from prosecution. If the suit is not valid, you may not be spared, yet it is often the case that blame is placed on you, the notary. When someone is blamed, doubts can be cast on the date or validity of a document, as well as on defective, incomplete, or forged signatures.