Protect Yourself With Errors And Omissions Insurance

Those individuals who have a company where professional service is provided may be held liable for errors and omissions. Because you want to be protected, errors and omissions insurance coverage will be a must.

For instance, someone that needs to carry errors and omissions coverage would be a notary public since this type of coverage offers coverage in the event of you making an error in the professional life.

Notary publics very frequently validate autographs for multi-million dollar real estate deals. Because we exist in a litigious society, you can’t risk being held responsible for any kind of real estate transaction which has turned sour. You were simply doing your trade as a notary.

ID fraud is becoming a large business these days. Identity stealers are so good that he or she may have state issued driver licenses containing their picture on the front. In one such case, the notary was taken to court by both parties involved, never mind she had taken all of the right steps in order to identify a signature.

Many notaries make the assumption their job’s insurance, or the employer’s bond, covers him or her when a mistake is made which is why it is important to obtain the correct general liability insurance quotes. The notary commission belongs to an individual and doesn’t belong to the business. Therefore, the notary public may be sued as an individual and on a private level for any error, whether deemed real or perceived, made made on the job. A few notaries are forced into filing for individual bankruptcy simply because they were involved in a lawsuit brought against them.

In order to avert this sort of awful situation, simply purchase the E & O coverage. The insurance company will give you attorneys for your defense as well as will provide you with the amount stipulated whenever the small business insurance quotes was purchased.

It is easy to commit errors, with no desire to cheat or deceive. Diligent notaries may sometimes be fooled through a forged identity, or even a government issued ID. Do not let another person’s dishonesty ruin your personal existence.