Did you know that hackers have exposed vulnerabilities in routers belonging to eight of the world’s top hotels? Consider the information you provide when shopping or banking online; or the personal documents such as financial statements or tax documents that are mailed to your home address. With very little information, identity thieves can make a big mess; costing the victim time and money when trying to resolve the situation and return their identity to pre-fraud status.
With statistics suggesting that 1 in 4 Americans fall victim to this crime each year, it is likely that you or someone you know will have their identity stolen at some point in their life. But, just like your home and car is insured against burglary or break-ins, there is coverage available to protect you and your family from identity theft.
What does identity theft insurance cover?
Identity theft insurance usually covers the cost accrued while you’re restoring your identity; not necessarily the money you may have lost to the crime. Additionally, exposures such as government benefits, fraud, credit card fraud, and false tax returns are covered. With identity theft insurance, your policy will likely cover and reimburse you for the money spent on ordering credit reports, attorney’s fees and expenses, transportation to and from impacted businesses and lost wages, etc.
How to help prevent ID Fraud:
– Create strong usernames and passwords, update them frequently, and never give this information out.
– Encrypt your Wi-Fi, change default settings and turn off its UPnP feature.
– Do not share or post your address, full name, phone numbers, SSN, birth date or place of birth on any social media sites. Also, it is a good idea to review your children’s social media sites, as adolescent’s are not exempt from having their identity stolen.
– Protect your mobile device with strong passwords and use your phones’ auto-lock feature to protect information.
– If you store personal information on a computer, make sure a firewall, anti-virus and anti-spyware software is installed. Keep hard copies of personal record stored in a safe location and always shred financial or tax documents.
– Use caution when downloading files, as this could compromise your data.
While there is no possible way to completely prevent this crime from happening to you, insurance is one way to protect you and your family from the ramifications that follow, as the result. Another reason to consider this type of coverage is because of the price. Typically, coverage is around $25 per year. For more information about identity theft insurance, please contact a Starke insurance agent, or complete one of our free, no obligation quote forms to get started.