Identity Theft Insurance

Time To Talk Insurance

This Months Topic: Identity Theft Insurance

Identity Theft can happen to anyone at anytime and can occur in many different forms. That’s why it’s important to know the real facts about Identity Theft and what you can do to protect yourself. Identity theft is defined as the process of using someone else’s personal information for personal gain.

In 2007, 10 million people fell victim to identity theft and in 2008 this number increased by 22% to over 12 million people. 43% of victims have their personal information stolen from thieves using low tech methods such as stealing a wallet or physical documents to obtain your personal information. Online identity theft accounted for only 11% of all identity theft cases. Alarming statistics show that one in every 20 Americans risks being a victim of Identity Theft this year. If you have any suspicions that someone has stolen your personal information act fast and contact your local law enforcement agency and then report this information to your credit card companies and banks where you have your checking and savings accounts. 71% of all fraud happens within a week of someone stealing your personal data, so acting fast and report any suspicious activity immediately.  

Identity Theft can occur in many different ways. For Example, your credit cards numbers could be stolen and used to make online purchases; a thief could impersonate you and open up a loan in your name; a felon could commit a crime and pretend to be you when caught; or someone could use your personal information to apply for a job.

      You can protect yourself from the harmful effects of an Identity Theft by adding this important coverage to your homeowner’s policy. The cost for this coverage is typically $25.00 a year and provides $15,000 of reimbursement protection for recovering one’s financial identity. This important coverage includes reimbursement costs associated with: Preparation and notarization of documents; Loan reapplication fees; lost earnings as a result of time off work; Reasonable attorney fees; and Bond premiums. Call Michael Carlisle at 740-286-5031 and ask for more information regarding this topic or any important coverage questions.