Identity Theft Insurance 101

Millions of Americans fall victim to identity theft each year. This type of fraud can create an innumerable amount of stress for those who are affected. In order to address this issue, many insurance companies have started to offer identity theft insurance policies. However, some suggest this is a strategic move to capitalize on the fears of consumers.

If you are unfamiliar, here are a few components that will be covered by identity theft insurance:

  • Phone bills
  • Lost wages
  • Notary and certified mailing cost
  • Attorney fees

You will be financially compensated for the expenses needed to reestablish your identity. However, this amount cannot surpass the limit set by your policy, which typically ranges anywhere from $10,000 to $1 million. Occasionally, your homeowners policy may provide coverage for identity theft. If this is the case, you have the option to add coverage for a small annual charge. If you are interested in discussing this type of coverage, don’t hesitate to contact the trusted insurance agents at Robert J. Los Insurance Agency, located in Hamburg, NY today!