If you have a business where your provide professional services, you should talk with your insurance agent about errors & omissions insurance.

One person that should make sure that they have errors and omissions insurance is a notary public. This insurance will cover you if you make a mistake in your professional work.

Notaries are often verifying signatures for multi-million dollar real estate deals. In a world where the answer to any problem is a law suit, you cannot afford to be found liable for this type of land dealing that has turned sour. You were simply doing your assigned duty as a notary.

Anyone can file a lawsuit against you for any reason. The legal fees can become overwhelming. In one case a notary was sued for notarizing a document for identity thieves. The ID thieves had state issued drivers licenses with their pictures. The bank and homeowner sued the notary for errors and omissions. This insurance will cover legal charges as well as the specified amount of any losses.

While some notaries are under the impression that their bonding or employers insurance will cover them in such actions, the truth is that neither provides the correct protection. The bond protects your clients and not you. Your commission belongs to you and not to the business for which you work. Some notaries have had to file personal bankruptcy due to the losses associated with errors and omissions.

A better way is to pay the small fee to purchase errors and omissions insurance. The insurance company will provide lawyers for your defense and will pay up to the amount agreed upon when the insurance was purchased.

Anyone can make an error. These errors or omissions can cause you to lose your home or other property. Protect yourself and your family through errors & omissions insurance. The cost for such security is very little, and in the event of an error or omission, you will be glad that you have purchased this insurance.

A business owners insurance policy offers many basic protections a business needs, bundled together. An example of specialized coverage you can purchase is E and O insurance, which is for professionals offering a service.

Tags: Home Business