Identity Theft Insurance

Identity theft insurance is a type of insurance that provides coverage and assistance if an individual becomes a victim of identity theft. Identity theft occurs when someone uses another person’s personal information, such as their name, Social Security number, or credit card number, without their permission for fraudulent purposes.

Identity theft insurance policies typically provide coverage for expenses associated with recovering from identity theft, such as the cost of hiring an attorney, lost wages, and the cost of reapplying for loans or credit cards. Some policies also provide coverage for unauthorized charges on credit cards or bank accounts and the cost of monitoring credit reports for suspicious activity.

In addition to financial coverage, many identity theft insurance policies also assist in the event of identity theft, such as help with canceling credit cards and other accounts and working with credit bureaus to correct inaccurate information on credit reports.

The cost of identity theft insurance can vary depending on factors such as the level of coverage provided and the insurance provider. It’s important to note that identity theft insurance does not prevent identity theft from occurring but instead provides assistance and financial coverage if it does happen.