Identity theft insurance is a policy designed to mitigate the financial losses and administrative burdens that come with having your personal information stolen. It provides access to fraud specialists who help restore your credit and identity, and reimburses you for associated costs like legal fees and lost wages, offering a support system during a stressful and complex process.
- What It Is: A policy designed to cover the costs associated with recovering from identity theft.
- What It Covers:
- Restoration Services: Help with restoring your credit and reclaiming your identity.
- Financial Reimbursement: Covers legal fees, lost wages, and other direct expenses.
- Monitoring: Often includes credit monitoring and fraud alert services.
- Who It’s For: Anyone concerned about the financial and administrative burden of identity theft.
- Key Considerations: Often available as an add-on to homeowners or renters insurance, or as a standalone policy.