Identity Theft CoveragePosted on: December 06, 2012
The threat of identity theft has become a major concern for residents of South Carolina. Did you know you can add coverage to your homeowner's policy to help if your identity is stolen? Identity Fraud expense is now offered by many homeowners insurance companies.
The annual charge is about $25 - $45 a year.
This coverage can help pay for expenses incurred as the direct result of identity fraud discovered during the policy period. Some typical expenses covered are:
- Lost wages as a result of time taken off from work to deal with identity theft
- Notary and certified mail charges for completing and delivering fraud affidavits
- Fees to re-apply for loans denied due to erroneous credit information due to identity fraud
- Certain pre-approved attorney fees
Coverage provided by the homeowners policy does not attempt to prevent identity theft, but will help with some of the expenses incurred as a result of identity fraud. Most people who have experienced identity theft would say that $2 - $4 a month is a small amount to pay for the additional help.