Identity Theft Insurance

Identity theft stories regularly appear in the news. Along with practical safeguards, what else can you do to protect yourself? Consider identity theft insurance. 

The Basics 

Identity theft occurs when others obtain and use your personal information without your permission. Once your personal information is obtained, thieves can use existing or open new credit cards in your name, write bad checks or take out loans.  

Before you discover your identity has been stolen, your credit can be damaged and thieves can have racked up significant debt, all in your name. 

What is Identity Theft Insurance? 

Identity theft insurance can be bought as a stand-alone policy or added as endorsement to your existing homeowners or automobile insurance coverage. Though identity theft insurance does not protect against the cost of the actual theft, it is a relatively inexpensive insurance option that reimburses for the cost of reclaiming your identity. This includes: 

• Phone call charges, photocopying costs and postage fees 

• Salary loss due to uncompensated time off from work  

• Legal fees 

Additionally, you gain access to a fraud specialist who can assist you in restoring your good name and protecting your identity. This service accompanies reimbursement for expenses associated with credit restoration, as noted above. 

Identity Theft Protection Suggestions: