It goes without saying that process servers, private investigators, and mobile notaries alike should carry various types of insurance. These professional fields can come with a variety of risks, and having outstanding life insurance, health insurance, dental insurance, vision insurance, and short and long term disability policies is something all of those serving as professional Oklahoma process servers, notary public officials, and private investigators should have. This type of insurance helps to ensure that if something ever happens to the Oklahoma notary public, process server, or Oklahoma private investigator, that these professionals and/or their families can get the needed financial assistance. However, many individuals overlook one very important aspect of insurance that all professional private investigators, notaries, and process servers should have.
Process servers, Oklahoma mobile notaries, and private investigators alike in the State of Oklahoma and elsewhere are often working on a legal case of some sort. Knowing how litigious the general population in the United States of America tends to be, it goes without saying that any Oklahoma process server, notary public, and private investigator is equally open to lawsuits and other litigation, with or without merit. Indeed, process servers, private investigators, and Oklahoma notaries public can make mistakes, too, and these mistakes can cost their clients money. Of course, this legal liability in the courts does not extend only to Oklahoma mobile notaries, process servers, and Oklahoma private investigators.
Medical doctors and teachers, among others, often face the same legal risks, and they carry professional liability insurance policies. In this case, if someone sues them, they have money to help pay or their defense and, if they lose the case or have to settle it, will be less likely to lose their house, cars, retirement, and other personal property. This way such incidents, while they will likely raise the doctors’ premiums and might cost them their medical licenses, will hopefully not affect their personal finances, too.
Most states require process servers, private investigators, and notary public officials to carry some type of a bond. Many Oklahoma private investigators, mobile notaries, and Oklahoma process servers might unknowingly assume that a bond covers them in all ways. This is simply not true, as bonds only serve to help protect their respective states from liability.
Oklahoma private investigation companies and detective agencies that hire other individuals are required by the State of Oklahoma to carry at least $100,000 of liability insurance. A notary public in Oklahoma is not required to do so, but most of the major signing companies will not contact them and utilize their services unless they carry anywhere between $25,000-$100,000 of errors and omissions (E&O) insurance. However, when considering whether or not to carry professional liability insurance, there are several factors to consider:
- What happens if a private investigation company is sued for more than $100,000? Where will this money come from?
- How badly do notary public officials want to get service requests from signing agents?
- What if a notary public accidentally makes a mistake on a home loan closing that costs the client quite a bit of money? Who will pay for it?
- What if a process server, who is not required to have any professional liability insurance whatsoever, ends up in hand-to-hand combat with a dangerous person and someone who is not at fault ends up getting hurt?
It is true that many private investigators, process servers, and notary public officials would be more likely to shy away from professional liability insurance, given its costs. However, this type of insurance is relatively inexpensive for Oklahoma mobile notaries and an Oklahoma notary public can often acquire it through the National Notary Association (NNA). Though a bit more expensive for process servers and private investigators, is also worth the costs.
Making a small initial investment of $100, $650, or even $1,000 up front would be far better than having to end up paying $100,000 or even $1,000,000 in the future. Besides, the United States Internal Revenue Service (IRS) allows these professional to write this type of insurance off as a business expense. The professionals at Oklahoma Judicial Process Servers www.OklahomJudicialProcessServers.com always make sure to carry professional liability insurance. It is much better to be safe than sorry!