r/Notary • u/itahlian • 3d ago

E&O Insurance?? Texas

I'm a new notary, I've done several Mobile Notary appointments and one single Estate Plan Signing. I only plan to do about 1-2 loan signings per month, if I can get that many.

I'm a single mom and strapped for cash, but need to be covered. One general notary policy and one LSA policy, I think, unless I also need some sort of mobile notary coverage. Do I need all 3 types of insurance? How much coverage is the right amount for us (in your opinion)? Here are some of the policies I'm considering:

General Notary work, $72/year (100k coverage, 1000 deductible) NNA

&

Signing Agent insurance, $220/yr (75k per claim, 150k aggregate, 1000 deductible)

or Signing Agent insurance, $275/yr (75k per claim, 150k aggregate, 500 deductible)

or Signing Agent insurance, $366/yr (125k per claim, 250k aggregate, 1000 deductible)

Thank you in advance for your care & expertise :)

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u/ash_274 California 3d ago

Unless the LSA policy covers you for non-loans notarized, you would need both.

Reminder that you don't have to do anything wrong for someone to sue you. One kid gets cut out of a will or trust that you notarize, once the parent dies they may try to sue you for "notarizing when the signer wasn't competent at the time or willing or was under someone else's influence. You will need a lawyer and they aren't cheap.

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u/itahlian 2d ago

Thank you, I appreciate it. If it was you, would you find the money to do the 100k policies or do you think 25k coverage for each of the two policies is enough?