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Title : Identity Theft Coverage
Link : Identity Theft Coverage

Identity Theft Coverage

; What is Identity Theft Coverage?

Due to the increase of internet transactions, lack of document shredding and trustworthiness of individuals, Identity theft is the fastest growing crime in the U.S. The Federal Trade Commission estimates that as many as 9 million Americans have their identities stolen each year.

What is Identity Theft? Identity theft occurs when someone uses your personally identifying information, like your name, social security number, or credit card number, without your permission, to commit fraud or other crimes.

Insurance companies have now recognized the importance of this growing crime and have added coverage to protect their clients under the normal homeowners insurance policy. This coverage is not added by default and which means you must call your agent to have it added on. I have found that adding this coverage to your homeowners insurance policy is sometimes less expensive than using a third party company. Prices range from $25 - $75 when adding identity theft coverage to your homeowners insurance policy and between $96 to $179 when using third party companies. The identity theft coverage added to a homeowners insurance policy is usually broader in form. This coverage varies from company to company so it is important to evaluate each company and the coverage each offers in order to make the most educated decision. We recommend consulting with your agent to determine all of your options regarding identity theft coverage.

Such coverage may include:

• Expense Reimbursement
• Paid Loss Reimbursement
• Thrid-Party Claims Management
• Credit Monitoring
• Credit Alerts & Freezes
• Public Records Monitoring
• Travel Document Replacement
• Disaster Document Replacement

It is important to contact your agent to see which if not all coverage types are covered should you add coverage to your policy. You should also ask your insurance agent how many individuals are covered under the added coverage as this varies from company to company. This may range from only one person to your entire family living in your household.

A good resource for extensive information on identity theft is the FTC website which lists extensive information regarding identity theft and all of the actions that should be taken if you are a victim of identity theft. I have listed a few links below:

FTC Website
About Identity Theft
What to do if your identity is stolen?
Tools for Victims


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DISCLOSURE: All entries by QuoteFishing.com are for informational purposes only and it is always recommended that you consult with your local insurance agent as coverage, definitions and claims procedures may differ from state to state.

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