What is Identity Theft Insurance?
What does it cover? How can I get it? Do I need it? And how much does it cost? Your questions regarding identity theft insurance are answered in this post. According to a recent report from the Justice Department, an estimated 3.6 million households have been victims of identity theft or fraud. This number varies based on the FTC and other governmental organizations classification of this type of crime as well as the numbers reported in the United States or overseas (including US citizens traveling overseas). The majority of reported cases involve a stolen credit card number. Critics of identity theft insurance claim that it is “not worth the money,” (Consumer Reports magazine, as reported on MSNBC.com). Critics of identity theft insurance state many concerns, chief among them the fact that in most cases it does not cover the following: reimbursement for money that is stolen or for identity theft expenses that occurred because of who the “thief” was. In the case of a family member, mos
A stolen identity event is the theft of your personal identification, social security number, or other method of identifying you, which has or could reasonably result in the wrongful use of such information, including but not limited to stolen identity events occurring on or arising out of your use of the Internet. A stolen identity event does not include the theft or unauthorized or illegal use of your business name, d/b/a or any other method of identifying your business activity. While you are a Member of WalletShield, you are automatically protected against the costs of the growing threat of Identity Theft. Not available to residents of NY. If your identity is stolen and, as a result, you are a victim of fraud you’re covered up to $25,000.00 Identity Theft Insurance* for out of pocket costs as listed below: Expenses incurred in the recovery of a stolen identity event including Attorney fees and legal filings; The cost associated with re-filing for loans, grants, or other credit/debt
