In order to provide some protection to the public, California law requires every notary public to file an official bond in the amount of $15,000.
The notary public bond is not an insurance policy for the notary public.
The bond is designed only to provide a limited source of funds for paying claims against the notary public.
The notary public remains personally liable to the full extent of any damages sustained and may be required to reimburse the bonding company for sums paid by the company because of misconduct or negligence of the notary public. (Government Code sections 8212 to 8214)
Errors and Omissions Insurance - 4 year
Errors and Omissions Insurance is not required by the Secretary of State.
Errors and Omissions Insurance provides protection in the event that you commit a negligent act or make an error or omission while acting as a notary if the error or omission causes a loss to a customer.
Errors and Omissions Insurance protects you up to the amount of the policy. Most policies also provide you with legal defense at no additional cost.
Your notary bond does not protect you; it protects your customers. When a bonding company pays for a loss on a notary bond it has the legal right to recover the loss from you.
Errors and Omissions Insurance protects you and there is no reimbursement to the insurance company from you.
Even simple oversights, such as a failure to affix your notary seal or to properly identify the customer could subject you to be personally liable for losses.