More and more individuals are becoming victims of identity theft. Your money is insured through the bank or credit card company. If you are a victim of identity theft and catch it soon enough your bank or credit card company will cancel the card or account, confirm any recent transactions and start and investigation process. If you are not aware of accounts that may have been created in your name or using your private data it can be very costly and time consuming to recover your identity.
Recently, many insurance carriers are aware of this problem and automatically include identity theft recovery coverage as part of the coverage provided on your homeowners or renters policy. In some cases this coverage can also be added by endorsement for a small additional charge if not automatically included.
So what exactly is identity theft? Identity theft occurs when a person uses another persons identification documents or other identifiers in order to impersonate that person for what ever reason. Approximately, 10 million individuals in the US were victims of identity theft last year alone. If not caught soon enough, you may need to hire and attorney, lose time from work, pay for duplicate copies of forms, all of which can add up. Most of the policies we offer will pay up to $25,000 to cover these costs.
Please check out the infographic below for more information about identity theft and how to prevent it.
To find out if you have identity theft recovery coverage on your policy, even if you are not our current client, contact us at one of our three locations or visit us on the web and get a free insurance review.