People search for notary publics when they need documents notarized. Getting a document notarized serves as proof of identification for the person signing the document, and only notary publics can offer this service. But do you need insurance to offer notary services? The answer is yes. Continue reading this guide to learn more about the services a notary public offers and the type of insurance you might need to offer this service.
The purpose of a notary public's job duties
There are numerous situations when you might be asked to get a document notarized. For example, if you're buying a house, you might need to get some documents notarized. You might also need this when signing a contract, healthcare papers, or financial records. If the organization that needs your signature is not present when you sign these documents, they might ask you to go to a notary public to sign them.
When you do this, the notary public asks to see your state ID to prove that you are the person you claim to be. After that, the notary asks you to sign the documents in their presence. When complete, the notary also signs the documents and stamps a seal on them, which proves their validity. The notary public vouches for you that you are who you say you are, and that's why they need insurance.
The type of insurance a notary public might need
Notary publics play a significant role in verifying a person's identity for essential documents. As a result, a notary public should have insurance if anything goes wrong that causes financial loss or problems. As a result, a notary public should purchase errors and omissions insurance. They can purchase this insurance type from any company that offers business insurance products.
Errors and omissions insurance covers any financial losses to a person or company if the notary makes a mistake when verifying someone's identity. In other words, a notary is liable for verifying someone's identity. If they fail to take the right steps, they might let someone sign a document when the person signing is lying about their identity. This mistake could cost a company a lot of money, and the company could file a claim with the notary public's insurance.
Get covered today
If you want to offer notary public services, you must purchase the right insurance policy. You can talk to an agent to learn more about this.