What is a Notary Public? – What is a Notary Bond? – What is Notary Bond Errors & Omission Insurance?
What is a Notary Public?
A Notary Public is an official appointed by the Secretary of State in any given state, whose role is to validate that the individual parties to a contract are who they claim to be.
What is a Notary Bond?
States usually require public officials to acquire a bond to make sure that if the official violates the public’s trust, funds are available to reimburse the state for their loss. If the notary fails to properly confirm the identity of the parties, the State may suffer a loss. The surety would reimburse the state up to the limits of the loss. Unlike other insurance, they would most likely seek reimbursement from the bonded party, the Notary.
What is Notary Bond Errors & Omission Insurance?
While the bond protects the public (the state), Notary Errors and Omission insurance is available to protects the notary from unintentional mistakes or false claims against them. Notary Errors & Omission insurance is available from most surety companies.
Select Choice Insurance represents companies that offer free Errors and Omissions insurance policies with the purchase of a notary bond.
Contact us today for a quote.