Notary E&O Insurance

A typical notary insurance policy includes the following coverages:

• Errors and Omissions (E&O) Insurance: Also known as professional liability insurance, E&O insurance is essential for public notaries. It protects against claims of negligence, misrepresentation, failure to deliver a service as promised, errors, and omissions in the professional services you offer to your clients. E&O insurance protects a wide range of professionals who give advice or provide services to their clients for a fee.

• Commercial General Liability (CGL) Insurance: CGL, or general liability insurance, covers notaries if third parties make bodily injury or property damage claims against you. It is designed to protect notaries from financial losses resulting from accidents that occur while conducting business, such as while working on a client’s property or meeting with clients in their office.

For example, if a notary accidentally spills coffee on a client’s laptop, causing damage to the computer, the client may file a claim against the notary for the cost of repairing or replacing the computer. CGL insurance covers the costs of defending against the claim and paying any damages awarded to the client up to the policy limits.

Additional coverages for notaries

To create a comprehensive notary insurance policy, you may want to consider including additional coverages, such as:

• Business Owner’s Policy (BOP): A BOP combines several types of coverage into a single package. They are customizable, and notaries can choose the specific coverages they need based on their risk exposures.

A typical BOP may include general liability insurance, commercial property insurance, and business interruption insurance, which provides coverage for loss of income and other expenses that arise when a business is forced to shut down due to a covered loss.

BOPs are typically less expensive than purchasing each type of coverage separately, and they can be a cost-effective way for notaries to obtain the protection they require.

• Cyber Liability Insurance: Notaries need to protect themselves and their clients in case of data breaches or other cyber incidents that may compromise sensitive information. As notaries increasingly rely on technology to conduct their business, they may face a higher risk of cyber threats, such as hacking, phishing, or malware attacks. If a notary’s computer system is hacked and sensitive client information is stolen, the notary may face legal and financial liabilities, as well as damage to their reputation.

Cyber liability insurance can protect notaries in cyber incidents by covering the costs of responding to a data breach, notifying affected parties, and offering credit monitoring services to clients. It can also provide coverage for legal fees, damages resulting from a lawsuit related to the breach, and public relations expenses to help manage the notary’s reputation.

• Commercial Property Insurance: If a notary owns, rents, or leases a physical office space where they conduct their business, commercial property insurance can provide coverage for damage or loss to the physical property and contents of that office space.

Commercial property insurance can protect notaries from financial losses from events such as fire, water damage, theft, vandalism, and weather-related damage. It covers repair or replacement costs for damaged or lost property, including the building structure, office equipment and electronics, furniture, and supplies.