Identity theft insurance, when purchased as a stand-alone policy, often provides reimbursement to crime victims for the cost of restoring their identity and repairing credit reports. It generally covers expenses such as phone bills, lost wages, notary and certified mailing costs, and sometimes attorney fees (with the prior consent of the insurer). Some insurance companies also offer restoration or resolution services to guide you through the process of recovering your identity. An insurance professional can help you find out what kind of coverage you may already have or offer details on what additional coverage you need.
Most homeowners and renters policies provide coverage for theft of money or credit cards; however, the amount of coverage is limited (usually $200 in cash and $50 on credit cards). Once you have reported the loss or theft of your credit card to the issuing company, you are responsible for only $50 of unauthorized use.
Please contact our office for a no-obligation review of all your insurance needs.