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identity theft insurance

Supplemental Identity Theft Insurance Coverage

No one is immune to ID theft. No matter who you are or where you are, there is always the risk of getting your identity stolen. If you lose your wallet or happen to walk past a sneaky thief, then you are at risk. In the digital age, losing your ID is easier than ever and can come when you least expect it.

What is Supplemental Identity Insurance?

Identity Theft Insurance is designed to help cover the costs associated with getting your identity sorted out after identity theft occurs. Reclaiming your identity can be an involved process and the costs can add up quickly. This coverage can help with costs like phone bills and legal assistance. This coverage is usually an addition to your existing homeowners, renters, or condo insurance policy.

What Does It Cover?

Identity theft insurance coverage can help cover the costs associated with getting your ID restored. However, ID insurance coverage usually does not cover the actual amount you lost due to ID theft. It’s there to help with the expenses of getting your ID situated again. These could include:

  • Copies of your Credit Reports
  • Cost of Replacing Documents
  • Lost Wages
  • Child Care Costs
  • Notary Fees
  • Long-distance Phone Calls
  • Cost of Mailing Documents
  • Legal fees
  • Credit Monitoring

Keep in mind that every policy is different. Some may include all of these coverages, while others may exclude some.

Why Do I Need ID Theft Coverage?

Even if you are overly cautious about protecting your ID on a day-to-day basis, ID theft is still a threat. Something as simple as clicking on a bad website could lead to ID theft. While this coverage is supplemental to your existing homeowners, renters, or condo insurance coverage, it’s still worth considering. Insurance is there as a safety net in case things don’t go as expected.

What to Consider When Shopping for Coverage?

When you are shopping around for ID Theft Coverage, it’s important to go through the details of the policy. Check to see what is, and is not, included in the policy. Each policy differs in coverage and costs. For instance, some policies may cover lost wages. Others may exclude child care. Depending on your needs, some policies may be better suited for you than others. Talk to your insurance agent about different coverage options. They work hard to help you find the right policy for your life.

Other Considerations:

It’s best to be careful with your identity and take measures to prevent theft in the first place. Taking these measures are the best option. ID Theft insurance is there as a backup. ID theft is alarming enough, and this coverage helps ensure your finances aren’t an additional worry when you are trying to remedy the situation.

When you are shopping around for coverage, do some research and talk to your agent about options. Working together can help you get the best coverage for you. Don’t be afraid to ask about discounts as well!

 

If you have any questions or concerns, reach out to our agents at 888.754.829! They can help you with your Supplemental ID Theft Insurance!

 

Additional Sources:
Insurance Information Institute: Identity Theft Insurance
LifeLock: Identity Theft Insurance

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