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Sunday, February 12, 2012

How to Choose Bonding and Insurance Company?


How to Choose a Bonding and Notary Supply Company
It is critical to choose a very reputable notary bonding and supply company that is approved by your state to issue notary bonds. As with any insurance, you want an agency you can count on. One that will still be here tomorrow and for years to come.
Many states’ notary administrators post approved bonding agencies; some do not and some states do not require notary bonds at all. Here are some important points to consider when choosing a bonding agency and/or notary supply resource:
· Return policy – do they stand behind their products?
· Pricing of products – are the prices reasonable, and can you qualify for discounts?
· Do they make products in-house? 
· What is the expected turnaround time to deliver products?
· Are their shipping charges reasonable?
· How long have they been in business? Find a company with years of experience and expertise.
· Will they be around in the future? You want to know when the time comes for your commission renewal, they’ll be there. 
· Are they nationwide? Some companies only offer products for certain states.
· Do they have a physical address in your state or just a post office box? You should always ask for a physical address.
Your best resource is a notary association that does it all – offers bonds, supplies, helps you process your application, and offers excellent support when you need it.
The American Association of Notaries offers bonds in many states, as well as Errors and Omissions insurance nationwide, and is highly reputable and reliable. We process your applications and renewals from start to finish quickly and accurately, and provide all quality notary products made according to each state’s guidelines. And membership in our Association means big savings for you and a ready resource if you need help! Once your notary commission is issued, keep us in your favorites for a quick reference if you need help, law references, products, or training. Already a member? Tell your friends!
Why Do You Need Errors and Omissions Insurance?
Many notaries are unaware that they have total liability for incorrect or inappropriate notary acts.
If a notary makes an error that costs a client something of value, that client could sue, even if the notary had no idea of the wrongdoing. Ignorance of the law is not considered an excuse.
Obviously, if a notary performs a fraudulent and deliberate criminal act, that notary should be prosecuted. But notaries are most often sued because of simple errors, lack of instruction and education, and persuasion or intimidation by employers, friends or family. They usually mean well, and they’re very persuasive – and the notary is usually just trying to help. But who gets called into court? It’s a lot to risk.
Paying a little money now may save you a bundle in the future. If you are sued, even when completely innocent of any wrongdoing, you still have to come up with lawyer and pay court fees to prove your innocence. This is how our legal system works – without hiring a lawyer, what are your chances of winning a case even if you are not at fault?
The American Association of Notaries offers Errors and Omissions (E & O) Insurance at very reasonable rates to help the notary protect against claims of wrongdoing or negligence, and will help pay legal expenses in a court case. This is optional insurance but is strongly recommended for all notaries. 

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