I do not understand your comment. What does policy renewal OR that specific date relate to?
With signature closers you don’t have to increase the E&O today; you need to do it by January 1st 2027 if your renewal is beyond that date. Like for example my renewal is on August 15th 2034, So I will have to renew mine on January 1st 2027.
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Yes, I upped mine to 100k this past Summer. I sensed this was where they were all going.
I’ve always carried that amount of insurance!
I think I’ve paid $156 for 100k coverage since I started 12 years ago. It’s never changed. I’ve always bought it for one year at a time because I never know how long I’ll be doing this. Why pay ahead when you don’t know what the future will bring?
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My Notary Business LLC has E&O. Do I still need individual E&O for each notary in my business?
And I paid $471 for a 4 year policy, Averages $117.75 per year.
OOOF. I paid $200 for a 4 year. Twice that seems pretty high.
Oh no! Where did you get your policy? Mine doesn’t renew until 10/2026.
Western Surety Company
Really! Gas has gone up, renewing your notary has tripled and Gas is threw the roof. REALLY!!
Exactly! Also the new law states “at renewal”. Guess title co are ignoring that fact. I wonder if insurance will prorate the change.
That’s because FNF requires it and most SS want SAs that are FNF approval
It’s a snake eating its own tail. *Lenders don’t like the mistakes, so need more E&O; push cost to Title; who push to SS; who push to notary who takes lowest offer& makes the most mistakes…See *
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Merchant’s 25 k is $33, 100k is $156. I have mine through the NNA portal. I have always had 25k but when I increased to 100k it they prorated the amount I had already paid.
in all honesty, their fees keep going down and down! in my area these companies now start at $60, and to my surprise, notaries are doing them for this price… what a shame! Additionally, one of my closings, the title company is charging the signers $500 for a closing and paying the notary $60-$100.
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If you hold your line on what you require, and you will get paid the fees that you require. If you get desperate and start accepting 60 or $80 assignments that’s all they’re gonna send to you and I don’t pay any attention at all to what the notary fee is on the closing disclosure if they paid me what I asked, I don’t have an opinion on what they choose to make out of the transaction. I must’ve starting to see where Notary fees are not listed separately. They’re all rolled into closing charge.
It will when they raise the premiums because they know it is now required by other signing order platforms.
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I have carried 1M as I prefer to work with Title Companies if I can, better pay with cutting out the signing agencies. I also have to have as I do taxes and such.
I have the $100K and they still want to low ball on paying per signing.