Technology is great, isn’t it? Today there are more advances in computers and sciences than ever before. It’s an exciting time to see what gadget comes out next. But, as well all know, that doesn’t always mean our things are safer. The Federal Trade Commission estimates that as many as nine million Americans have their identities stolen each year.
Identity theft victims often have to spend their own money and a considerable amount of time and energy to clear their credit histories and correct their financial records. Maybe you have experienced this or have a friend who has. Think about what they went through trying to clear their name and good reputation. It’s not only a nuisance to get something like that resolved, but you’re also giving up time – the most precious asset of all.
You may not know it, but a lot of insurance policies cover some sort of identity restoration service. If you become a victim of identity fraud, you’ll have expense reimbursement and personal help for the recovery process. If you’re not sure what your policy covers, it’s worth taking a few minutes to ask your agent.
Identity fraud victims spend an average of 60 frustrating hours repairing the damage done by identity thieves. Many identity theft insurance policies only reimburse you for the money you spend to do the work yourself, although some identity restoration services include professional case management. This affordable protection – available as an addition to the existing policy that insures your home, apartment, condominium, manufactured home, or farm – saves you time and helps ease your burden.
Policies may vary, but some offer identity restoration services for up to 12 months for any covered identity fraud. A case manager works with affected agencies and institutions, including credit card companies, credit bureaus, creditors, and businesses, on your behalf to correct any covered identity fraud issues you may experience.
You may be wondering who all is covered in this kind of situation. Most policies protect you and any of the following who live in your household: Your spouse, relatives, and anyone under age 21 who’s cared for by you, your spouse, or your relatives.
So, how can you protect yourself? Here are a few tips:
If you think you have been a victim of identity theft, the Federal Trade Commission website, www.ftc.gov, has lots of good information for you. As a good rule of thumb, always reach out to your agent as a person to turn to for help and guidance.
We spend our entire lives establishing our identities. Take the necessary precautions to protect it. You have worked too hard to let someone steal it all away from you.
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