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Do You Need Identity Theft Insurance? Coeur D Alene ID

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.

Panhandle Insurance Agency Inc
(208) 664-9223
1410 Lincoln Way Ste 300
Coeur D Alene, ID
Nonini Cathyanne CPA
(208) 667-5762
2005 Ironwood Pkwy
Coeur D Alene, ID
Tri-State Services Agency
(208) 666-8866
206 E Indiana Ave
Coeur D Alene, ID
Tim Skelton Insurance Agency Inc
(208) 664-2155
1230 W Northwood Center Ct Ste B
Coeur D Alene, ID
Allstate Insurance Companies
(208) 667-4159
610 W Hubbard St Ste 101
Coeur D Alene, ID
Mack Bill
(208) 667-7485
1401 E Sherman Ave
Coeur D Alene, ID
Financial Security Associates
(208) 664-2345
118 N 7th St
Coeur D Alene, ID
Northwestern Mutual Financial Network
(208) 762-7526
1250 W Ironwood Dr Ste 243
Coeur D Alene, ID
Blue Cross of Idaho
(208) 666-1495
101 W Ironwood Dr
Coeur D Alene, ID
B C F Enterprises Inc
(208) 676-1229
2020 Lakewood Blvd # 324
Coeur D Alene, ID

Do You Need Identity Theft Insurance?

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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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