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Do You Need Identity Theft Insurance? Asheboro NC

No insurance policy can truly prepare you for identity theft. Identity theft insurance does not actually cover you for the monetary loss you suffer from identity fraud. Read on and know more.

David E. Duke
(919) 878-7133
6512 Falls of Neuse Rd., Ste. 110
Raleigh, NC
DUI, Criminal Defense, Domestic Violence, Federal Crime, Identity Theft, Juvenile
Campbell University School of Law
State Licensing
North Carolina

Jonathan Andrew Vogel
(704) 373-8858
2100 Rexford Road, Suite 100
Charlotte, NC
Education, Identity Theft, Administrative Law
State Licensing
North Carolina

Allstate Insurance
(336) 626-3553
516 S Cox St
Asheboro, NC
All Carolina Insurance Agency Inc
(336) 629-9292
Asheboro, NC
Brown Larry E Jr
(336) 625-8598
131 W Academy St
Asheboro, NC
Suzanne R. Begnoche
(919) 960-6108
312 West Franklin Street
Chapel Hill, NC
General Practice, Bankruptcy, Identity Theft
University of North Carolina School of Law,Duke University,Pennsylvania State University
State Licensing
North Carolina

McKinnon Howard A
(336) 625-3995
322 W Salisbury St
Asheboro, NC
Brown Larry E Jr
(336) 629-9151
128 N Park St
Asheboro, NC
State Farm Bank
(336) 626-0422
131 Dublin Square Rd
Asheboro, NC
Cox's Finance & Insurance Agency
(336) 625-3773
1204 Shamrock Rd
Asheboro, NC

Do You Need Identity Theft Insurance?

Provided By: 

Identity Theft Insurance

400,000 victims a year and a small premium to pay for coverage, but is it still good value for your insurance dollar?

It’s that sinking feeling that no insurance policy can truly prepare you for: you have just been the victim of identity theft. Someone has stolen your driver’s license, Social Security number and most catastrophically, your credit card. Before you realize anything’s awry, this thief has racked up thousands of dollars in debt, rented apartments or cars, and made big-ticket purchases – all in your name. You can’t possibly pay off this stranger’s reckless spending spree, and suddenly your credit rating is in tatters.

Thankfully, insurance companies do offer indemnity for this growing problem, and at first glance it looks like a wise policy to have in place. The premiums on identity theft insurance (also called identity fraud insurance) can run as low as $25 a year and provide about $15,000 worth of coverage. This fee can be added to your current polices for home insurance or travel insurance , or it can be set up as a stand-alone account. Though accurate figures are hard to pin down, the Federal Trade Commission estimates that there are somewhere between 160,000 and 400,000 victims of identity fraud in America each year, and the number has been steadily rising.

So why wouldn’t you rush out and get such an affordable policy if you haven’t already?

Well, there is one important thing to keep in mind before you do: identity theft insurance does not actually cover you for the direct monetary loss you suffer from identity fraud. That’s right. If the crook goes out and buys $5,000 worth of DVDs on the Internet with your credit card number, the insurer isn’t going to turn around and pay off that bill for you. Instead, what the policy does cover is the expenses you incur setting your financial house back in order. These expenses can include:

  1. Fees for reapplying for loans that were turned down because of incorrect credit...

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