Understanding Notary Insurance and Why You Need It

Notary insurance is known by a number of different names, most popularly Errors and Omissions Insurance, or E & O coverage. If you are a notary in the greater Mesa, AZ there are a variety of different reasons why you will want to carry this insurance. The team at Lifetime Investments is here to help you understand your coverage options and help you determine the right policy and coverage level for your own unique situation.

What is Notary Insurance?

If you make an error that is unintentional and unknowing you can be protected from liability that can arise from notarizing a false signature. Please note, that this insurance coverage will not help you if you knowingly notarize a false signature or are otherwise knowingly involved in an illegal or dishonest act. 

Errors and Omissions insurance policies provide coverage if you are involved in a crime unknowingly. Notaries are required to check identification in order to notarize the signature of persons who are not already known to them. However, there are people with criminal intent who can furnish false identification documents to a notary. If you have followed all protocols and are still unwittingly involved in the certification of a false signature, you will be covered from liability by an E & O policy. We recommend that anyone who works as a notary, whether independently or as part of their occupation, look into their options when securing this important insurance. Notaries provide an important service to the business community and should be protected.

Are you a notary in the greater Mesa, AZ area? Contact the team at Lifetime Investments today and find out more about your notary insurance protection options. Don’t leave yourself open to professional liability without having the coverage that you need.

3 Tips for Buying Salon Insurance in Mesa AZ

Having your own salon business comes with many rewards. You work for yourself, you establish a presence in the community, and you do what you love. However, it’s vitally important to protect this asset before you open the doors to your first customer. Any business needs to be protected and there is specific insurance you can purchase as a salon owner. This will protect your business, your employees, and your customers. Read on to learn about three important tips for buying salon insurance in Mesa, AZ.

1. Compare Quotes

Depending on the size and scope of your salon, your insurance needs will vary. This is why it’s important to compare a few different quotes before deciding on the one that’s right for you. In the end, you’re looking for the right policy for your particular budget.

2. Bundle Insurance Policies

Since you most likely have other insurance policies, like homeowner’s insurance and auto insurance, it’s a good idea to bundle all your policies under one insurance company. When you do this, the insurance company will reward you by giving you a discount on your premiums, which puts more money in your pocket to run your salon business.

3. Work with a Reputable Agent

To find the best policy at the best price and be sure your salon is protected, work with a reputable and knowledgeable insurance agent serving the Mesa, AZ area. The agents at Lifetime Investments are fully knowledgeable about salon insurance and will answer all of your questions and concerns. They will help you compare quotes, bundle your policies under the right insurance company that best fits your needs, and help you save time and money. Contact the friendly agents at Lifetime Investments today at 480-720-3600.

Are You Required to Carry Notary Insurance?

If you are beginning to work as a notary, one of the questions you may have is whether you are required to carry notary insurance, also referred to as Errors & Omissions Insurance. This is a question that we at Lifetime Investments, serving the greater Mesa, AZ area, are often asked. Here is the answer to this question. 

Are You Required to Carry Notary Insurance?

No. When you become a notary, you are required to put up what is known as a notary bond. If a mistake is made on one of the papers you are notarizing, the money to cover that mistake comes out of your notary bond. As such, you are not required to carry notary insurance, as the bond provides the legal minimum needed. 

Why Should You Carry Notary Insurance?

The main reason why you should consider carrying notary insurance is because it offers you more protection than a notary bond. A notary bond is the minimum amount of coverage that you are required to have. But if the damages done by your error cause more monetary damage than the bond covers, you can be sued and have to pay this amount out of your own pocket. Notary insurance helps to provide you with a greater level of coverage in the event of an error or omission, helping you to protect your personal finances.

While it is not required by law, there are many benefits to purchasing and carrying notary insurance. If you are looking to buy notary insurance in the greater Mesa, AZ area, let Lifetime Investments help you. Contact us today to learn more about these policies or to get a price quote for the right policy for you. 

Beauty Salons, Nail Salons, And Other Personal Care Operations Have Special Insurance Needs

If you are the owner of a salon providing personal care services such as haircuts, styling, nail care, skin care, tanning, massage, you need to consider the special needs of the business and your customers in order to have adequate insurance protection. It is best to work closely with your insurance agent at Lifetime Investments in Mesa, AZ to make sure any risks that are specific to your business, including any chemicals and equipment you work with are covered as well as your employees and your facilities.

Lifetime Investments in Mesa, AZ are the experts you can count on for insurance of any salon operations.

Salon Considerations

Things to consider include:

  • Personal care issues
  • Chemical used for treatments
  • Legal working status of employees
  • Product liability

The agents at Lifetime Investments in Mesa, AZ are well versed in the specific needs of any owner-operated salon and understand all the insurance requirements.

Naturally, you will need to insure the premises against any potential risk of damage. Additionally, you will need to insure the clients against any accidental harm. The types of insurance necessary depend on the activities that occur in each salon. There are different insurance requirements for a tanning salon in comparison to a salon that only offers skin care.

There are concerns about the equipment used in these operations, the problem with cross-contamination between clients and the toxic chemicals that are used in the business operations. All of these factors are considered by a competent insurance underwriter when working with a business owner to create adequate insurance coverage for their operations.

Reach Out To Your Agent

Be sure to check with your agent at Lifetime Investments in Mesa, AZ. Lifetime Investments in Mesa, AZ gives a free insurance review to make sure you have adequate coverage for all of your salon operations. They have many client s that work with salons and are the experts you need to talk with to make sure you have adequate insurance coverage.

Ensure Your Special Items Receive Special Coverage

A locked gate bars passers-by from admittance to a private residence in the Copper Square area of downtown Phoenix AZ. 2007-06-17.

Specialty insurance is probably not the first thing on your mind when you start shopping for homeowner’s insurance, but it is an important consideration. You have wrapped your home in a gated entry, and feel that your homeowners insurance has you “covered!” However, did you know you can increase the amount of coverage for personal property – your personal belongings inside the home? You may be surprised that many policies include limits on certain items, most of which are higher-end purchases you may have made through the year, such as cameras, electronic equipment, guns, and jewelry.

Let’s say you decide a policy with $50,000 in personal property coverage should be sufficient, you owe it to yourself to check into any limits your insurer will pay to replace or repair them. Thinking you “have it all covered,” you may not read through the policy and see something like: “$500 limit on guns” or “$1,000 limit on computers.” What will be your response when you experience a loss and file a claim only to find your $50,000 in personal property coverage will only cover up to the policy’s limits on certain listed items?

It is time to find peace of mind…

Talk to me… make sure that you not only feel comfortable with the policy you’re buying, but that you fully understand any possible limitations. We will discuss additional riders that are available and you can describe or show any special items you own, such as collectibles, jewelry, or artwork. With my experience with multi-carriers, I will know which carrier offers a rider, that can easily be added so you can obtain sufficient coverage, or at the very least, schedule the items at a stated value or appraisal cost. We can make a knowledgeable decision whether some of your special items will require additional coverage; rather like a spin-off from a homeowners policy – that will provide coverage for just those specialty items you choose.

Be aware that you’ll have to provide appraisals to ensure adequate coverage, and that you should always have your special items appraised regularly to maintain adequate coverage in the event the items increase in value.

Jan Vitale
Independent Insurance Agent
Proudly serving her clients and her industry for 30+ years