ID theft endorsement on Your Homeowner’s Insurance
EINSURANCE.comTMIf it’s true there’s a sucker born every minute, it’s also true there are 10 crooks waiting to roll that sucker. Don’t let the bad guys cash in on your good name.
If somebody steals your car or brand new flat screen TV, you can easily replace it, especially if you have adequate homeowner’s insurance. But if somebody steals your identity, you could spend over 140 hours cleaning up the ensuing mess. You can also expect to fork over about $530 out-of-pocket to repair damage done to an existing personal account. And it’s hard to measure the cost of fixing the damage done if an ID thief opens new accounts in your name. None of this needs to happen if you take advantage of a little-known service available from many major insurance providers.
Identity theft restoration coverage is a relatively cheap endorsement you can add to your homeowner’s or renter’s policy. For as little as $25 extra year, you can be reimbursed for losses that result from covered identity fraud, up to the extent of your policy.
Typically, your insurer will work directly with your creditors, affected businesses and credit bureaus to correct damages and clear up your good name. The coverage will probably take care of ancillary costs like getting credit bureau reports, notary fees, phone calls, fees to reapply for loans, lost wages and bank charges.
If you’re shopping for homeowner’s insurance, ask to have this bargain-priced endorsement added to your quote. And take these proactive steps to avoid being an ID theft victim.
