Identity Theft Insurance

Obtaining Identity Theft Protection Through Homeowner’s Insurance

Nowadays, you can’t browse the latest news without hearing about another case of identity theft.

According to the Javelin Strategy & Research 2015 Identity Fraud Study, fraudsters stole $16 billion from 12.7 million U.S. consumers in 2014.

That’s a hefty number, and one that has led many insurance providers to offer identity theft insurance. In fact, it is now being offered as additional coverage in some homeowner’s insurance policies.

What’s covered

A standard homeowner’s policy covers theft of cash or credit up to certain limits. But what if your identity is stolen and used to conduct illegal activity in your name? If your policy does not provide identity theft protection, you may be able to purchase it for a nominal fee of roughly $25 to $50 per year.

Covered expenses might include phone bills, lost wages, attorney fees, and notary and certified mailing costs. More extensive coverage might include identity restoration.

Limitations and exclusions

Coverage limits range from $10,000 to $1 million. Read the fine print and ask plenty of questions to be sure you understand the terms, conditions and exclusions.

As with insurance that protects your home and your belongings, having identity theft protection gives you added peace of mind. Talk with your insurance provider about the best ways to protect what is arguably your most valuable asset: your identity.