As a notary, you have an important job and must execute your duties carefully. Make even a small mistake and a client might sue you. Then, of course, there are other, more general risks—the kind that every business faces, like the risk of a visitor being injured at your place of business.
Fortunately, there are business insurance policies that address those risks. General liability insurance, business owners policies (BOPs), workers’ compensation insurance, errors and omissions insurance, commercial auto insurance, cyber insurance, and umbrella insurance are what we refer to collectively as notary insurance. Insurance for a notary public is crucial, as it protects you from the financial consequences of incidents that affect notaries around the country every day.
You must be sure to have all of the policies that apply to your business since the cost of one incident can be more than a notary can absorb. Sadly, many small businesses cease operations every year as a result of large financial burdens from lawsuits and other expenses they hadn’t prepared for.
This article provides information and insights on notary insurance, including what it is, what it costs, and what kind of real-world incidents it covers.
If your job is to officially verify the identity of people who sign important documents, you need notary insurance. So does anyone who serves an official, impartial witness. Not sure if what you do meets either of these criteria? Contact us and we can talk with you more about your duties and whether you need notary insurance.
At biBERK, we offer these seven types of small business insurance for a notary public:
Notary insurance policies are very affordable, particularly when purchased from biBERK since we can offer coverage at up to 20% less than many other providers thanks to our direct-to-you sales approach.
Your cost will depend on factors like the size of your business, your claims history, and others. However, you can get fast, free, self-service notary insurance quotes for the policies you need online whenever it’s convenient for you. You can also purchase policies, manage them, and report claims on the biBERK website. And, of course, if you have questions, our licensed insurance experts are happy to assist you.
How much notary E&O insurance you need to protect your business depends on multiple factors. Our licensed insurance experts can talk with you to learn more about your risk profile. Then they can recommend coverage limits not only for your notary E&O insurance, but for any policy you purchase from biBERK.
Notary E&O insurance from certain providers only covers some of the actions you take as a notary. Notary E&O insurance from biBERK covers all notary acts that you listed in your application with us. There are no hidden exclusions. That’s important, since a coverage gap can be costly if someone sues you.
Notary errors and omissions insurance can protect you if you make a mistake like failing to properly screen the signers of an important document and consequently are sued. Your notary E&O insurance can cover damages and also court costs.
If you have an office and, as mentioned above, someone is accidentally injured while visiting you, a general liability policy or a BOP can cover the person’s medical expenses and any legal costs if you're found to be liable.
And an umbrella policy can kick in if the limit of an underlying biBERK liability policy that covers a particular incident is exceeded—up to the umbrella policy’s limit. For example, if your limit on a particular liability policy is $150,000 and a court judgment against you plus legal fees totals $200,000, your umbrella can pay the $50,000 above the limit of the other policy.
The real-world claim examples above are just a few of the kinds of incidents that can impact a notary public. Fortunately, notary insurance can protect you so that you can focus on serving your clients. And when you buy notary insurance from biBERK, you’ve got our deep resources and insurance expertise behind you, which can make getting past an incident much easier and less stressful.