What can Errors and Omissions (E&O) insurance cover for notary businesses?
Discover how Errors and Omissions (E&O) insurance can help protect notary businesses from potential lawsuits and financial loss.
Updated May 30, 2023.
No business or individual wants to experience financial loss or damage to their reputation. Legendary investor Warren Buffett famously said, "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."
So, notary businesses can opt for errors and omissions (E&O) insurance coverage to help protect them and their reputation.
What is covered?
E&O insurance is aimed at helping cover your notary business in case of civil lawsuits, missed deadlines or negligence claims linked to professional mistakes, whether you actually made them or not.
- Professional mistakes: This coverage can help cover the legal defense costs and a settlement or judgment amount if, for example, you fail to witness a legal document signing properly, causing a financial loss for the client.
- Claims of negligence: If a client accuses your notary business of failing to notarize a legal document and decides to sue, E&O coverage can help cover the legal fees and other legal defense costs.
What isn't covered?
Other risks notary businesses could face include:
- Business vehicle damage: Commercial auto insurance can help cover collision repair costs or medical fees.
- False advertising claims: General liability insurance can help with harm claimed to be caused by false advertising.
- Employee injuries: Workers' comp insurance can help cover lost wages and medical expenses if an employee gets injured in the workplace.
Help protect your notary business with E&O coverage
NEXT offers a one-stop solution for notary businesses. With comprehensive, tailored notary insurance, you can have peace of mind. And it's easy — apply online for an instant quote in less than 10 minutes and immediately get access to your certificate of insurance to share it 24/7 with the NEXT app.
