E&O Insurance Higher Than $100K

I currently have $100K insurance through NNA but looking for higher coverage. Can anyone recommend an agency that offers $200K - $500K in E&O insurance?

Interesting, why would you need that higher coverage?

There are two title companies in my area who require $225K and one who wants $500 for closing in the developments they represent.

I just got my coverage for E&O and Signing Agent Work (covers both, notarial acts and loan package mistake, from U.S. Underwriter Ins. Company, via Stratum Insurance Agency (they’re located in Las Vegas, but I did everything online)
I follow the advice of:


After many searches I finally found what I need, biBerk is another good option, but they don’t cover my state, NJ. I also tried Hiscox but after I carefully explained to them what exactly a NSA needs to be covered, they don’t cover Notary Signing Agents, only notarial acts.

1 Like

Thanks, I’ll check out coversmart.

Aren’t you covered for that amount under the title company’s professional liability umbrella policy?

I asked that question and I was told no, because I would be considered an independent contractor and had to have my own coverage.

2 reasons… #1 if you want to work straight with title companies or escrow offices you must have 100K plus
#2 protect your access from a possible lawsuit, where your insurance only covers 1/4 and you would end up paying the other 3/4… does it make sense to you why people want or need 1 million coverage?

2 Likes

What company are you covered under, right now

currently with Merchant’s Bonding

which is through NNA.

I got the same one through NNA.
I learned with @LindaH-FL and other veteran agents in the forums the difference in coverages.

I ended up getting a $1mil policy from biBerk as the difference between $500K and $1mil was a couple of dollars a month. They have been amazing to work with through the whole process.
Contact info below:
Alain Hernandez
Customer Service Representative
bi BERK , a Berkshire Hathaway Company
e. [customerservice@biberk.com]
o. (844) 472-0967 | w. www.biberk.com
Good luck,
Suie

2 Likes

I don’t think you will get enough business from those 2 companies to pay for itself. I would pass. The title company’s 1mil E&O will cover you as well. These title companies just you to have extra, just in case.
These are business choices you have to make. Check google. I believe your would need at least 1mil to do development closing. These always have a high risk of lawsuits.

I was told by NNA that their E&O does not cover ALL notarial acts. I called Hiscox, who I was insured by for two years. Hiscox did not cover me for all notarial acts.
After reading so many posts about E&O and people recommending BiBerk, I switched. I have $1,000,000 coverage with BiBerk for the same amount I paid Hiscox.

1 Like

Do you mean a “Bond” or E&O insurance through Merchants. I only know about them bonding.

Yep, I just signed up for a $1M policy.

1 Like

Did you do it with biBerk or Hicox?

I went with BIZ ins for $500k. I also have two lender that now require that amount. Provident and Wayfair ,

Thats crazy the minimum coverage is 30K. Where do you live!!! For them to want that much. They need to pay for it.