Identity Theft Insurance

Identity Theft Insurance

Having your identity stolen can have devastating financial consequences. With just a few pieces of information, a criminal may be able to open credit cards in your name, apply for loans or even access additional sensitive data about you and those with whom you are connected. Given the potential losses and damages related to identity theft, it’s essential to understand and maintain appropriate insurance.

What Is Identity Theft Insurance? 

Identity theft insurance may provide critical financial assistance if your personal information is stolen or compromised. Although the exact details of your policy may vary, identity theft coverage may help you pay for the following expenses or damages associated with recovering from identity theft:

  • Attorney fees
  • Lost income
  • Photocopying costs
  • Postage
  • Credit monitoring services
  • Notary fees

What Is the Difference Between Identity Theft Insurance and Identity Theft Protection? 

It’s important to understand the distinction between identity theft insurance and identity theft protection. While both precautions can help protect you from these crimes, they do so in different ways.

  • Identity theft protection provides tools and resources to prevent your identity from being stolen, such as credit monitoring and fraud alerts.
  • Identity theft insurance can cover costs and losses associated with restoring your identity and credit history after a crime.

Although some identity theft protection services may include identity theft insurance, you should take time to assess the details of such arrangements to ensure they provide adequate coverage.

Who Needs Identity Theft Insurance? 

A robust identity theft insurance policy may prove to be one of the most invaluable investments you ever make. Although most people should strongly consider this coverage, it may be of particular importance if the following conditions are applicable:

  • You store, manage or transmit a significant amount of personal or sensitive data.
  • You have previously been a victim of identity theft.
  • You work in a field in which identity theft is common, such as finance and healthcare.
  • You lack the resources to potentially manage an identity theft situation on your own.

Get the Right Coverage 

Identity theft can occur quickly and create catastrophic financial consequences before you even realize what has occurred. In even a short amount of time, a perpetrator may be able to inflict severe damage. Without an adequate identity theft insurance policy, you may be left to manage the situation alone and pay for losses out of pocket.

We’re here to help. At Legacy Insurance, our agents have the knowledge and experience to help you protect your finances and future with suitable identity theft coverage. Visit our website or call 719-593-5814 to get started today.

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