Identity Theft Insurance

Identity Theft Insurance Coverage
 

How You Can Avoid Being A Victim

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A survey conducted by the Better Business Bureau Fraud Report revealed that 1 in every 23 consumers falls victim to identity theft, underscoring the importance of having identity theft insurance. With millions of dollars stolen daily from hardworking Americans, protecting yourself is crucial.

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Here are some proactive steps you can take today to safeguard your personal information:
 

• Limit what you carry: Avoid keeping all your personal information in your wallet. If it’s lost or stolen, you’ll reduce the risk of someone using it to open accounts or access your funds.

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• Shred receipts: Always collect ATM and credit/debit card receipts, then shred them to prevent thieves from copying your card number.

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• Guard personal info: Never share sensitive details like your Social Security number over the phone or online with strangers.

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• Shop securely online: Look for sites that start with "https" rather than just "http," as the "s" indicates the site is secure.

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• Be aware of scams: Educate yourself about phishing and pharming, and never respond to unsolicited emails asking for personal data like your bank account or credit card numbers.

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• Protect your devices: Install anti-spyware software and firewalls on your computer to defend against malicious attacks.

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• Monitor statements: Regularly check your bank and credit card statements for unauthorized transactions, as some may not trigger alerts from your financial institution.

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• Check your credit:  You’re entitled to a free credit report once a year from major credit bureaus such as Experian and Equifax. Use it to spot any discrepancies.

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• Keep passwords secure: Never write down passwords in easily accessible places like a phone book or planner. Store them securely in locked files or password managers.

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Taking these steps along with investing in identity theft insurance will give you peace of mind, knowing you’re doing everything possible to protect yourself and your finances.

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What Does Identity Insurance Coverage Cover?
 

When you invest in identity theft insurance, you receive valuable protections designed to help you recover from the financial and emotional toll of identity theft. Here are the key benefits typically included in the best identity theft insurance plans:

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• Reimbursement for Restoration Expenses: If your identity is stolen, the policy will cover expenses involved in restoring your identity, helping you recover without bearing the full financial burden.

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• Medical ID Fraud Protection: If your personal information is used fraudulently for medical services, the insurance will cover the expenses to correct any errors made in your medical records.

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• New Document Costs: This includes reimbursement for expenses related to obtaining new social security cards, driver’s licenses, and other important documents that were compromised.

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• Lost Wages Recovery: If you lose income due to the time spent resolving identity theft, the insurance will help cover the lost wages, providing financial relief while you work through the situation.

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• Attorney Fees: If legal action is required to fix the damage caused by identity theft, your policy will often cover attorney fees, reducing the financial strain of hiring legal assistance.

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• Remediation Services: These services are essential for restoring your credit and identity. They typically include assistance in disputing fraudulent charges, correcting errors in your credit reports, and working with creditors to resolve issues.

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• Credit Counseling Services: These services provide expert guidance on managing your credit and finances during and after the recovery process, helping you rebuild and avoid