Identity Theft

identity-theft-1Identity theft is America’s fastest growing crime, and it can happen to anyone.  In some instances, a person may have a credit card or debit card stolen and used for purchases and in other situations identity theft may occur at the hands of hackers gaining access to personal computers and stealing important information from the user’s files.

Identity theft insurance may be purchased one of three ways:

  • An addition to a homeowners insurance policy
  • A stand-alone policy
  • An endorsement to a homeowners or renters insurance policy

Cyber-Security-1Identity theft insurance policy provides reimbursement to crime victims for the cost of restoring their identity and repairing credit reports.  Dependent upon the exact terms of your policy, the reimbursed expenses may include the following:

  • Lost wages due to time taken off work to meet with law enforcement, credit agency, or legal counsel
  • Attorney fees incurred for defense of lawsuits by merchants or their collection agencies
  • Loan application fees to reapply for loans that were rejected due to identity theft
  • Charges for long distance phone calls to merchants and law enforcement agencies to report identity theft
  • Cost for notarizing affidavits