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Do You Need Identity Theft Insurance? Wheeling WV

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.

Nationwide Insurance
(304) 232-5880
2500 Eoff St
Wheeling, WV
Diamond Insurance Agency
(304) 233-0855
Wheeling, WV
(304) 234-6030
2001 Main St Ste 700
Wheeling, WV
Bernie Glenn Insurance & Financial Services
(304) 277-3239
1804 Warwood Ave
Wheeling, WV
Blue Cross & Blue Shield Inc-Mountain State
(304) 234-7000
Wheeling, WV
Allstate Insurance Companies
(304) 232-1200
1010 National Rd
Wheeling, WV
State Farm Mutual
(304) 233-7244
2001 Main St
Wheeling, WV
Horace Mann Insurance Company the
(304) 242-6003
19 Lynwood Ave
Wheeling, WV
Joanou Paul M
(304) 232-6277
1144 Market St
Wheeling, WV
Ludewig Charles W
(304) 233-7283
1B Elm Grove Crossing M
Wheeling, WV

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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