Identity Theft Insurance

Identity Theft Insurance

The Benefits of​ Identity Theft Insurance
One of​ the​ fastest rising crimes in​ the​ United States and United Kingdom is​ Identity Theft .​
Considerably,​ identity theft is​ one of​ the​ most often reported crimes .​
Identity theft is​ a​ horrible crime which occurs about thrice every minute in​ America .​
in​ U.K an​ estimated one hundred thousand cases are committed every year .​
Regrettably,​ identity theft is​ not anymore an​ unusual happening particularly in​ North America .​
Majority of​ people do not even give a​ thought of​ it .​
It does not matter to​ them whether the​ crime is​ committed or​ not .​
They will only be concerned about it​ if​ they will be victimized by the​ identity thief .​

What is​ the​ meaning of​ Identity Theft? Identity Theft or​ Identity Fraud is​ the​ deliberate assumption of​ the​ identity of​ another person,​ generally in​ order to​ have free access of​ their finances or​ to​ use it​ in​ committing a​ terrible crime .​
Identity theft is​ unlawful use of​ your personal name,​ date of​ birth,​ social security number together with your financial and banking information .​
the​ Identity Thief will utilize the​ information in​ applying for credit,​ opening bank accounts and to​ the​ extent of​ find a​ job.
Identity theft is​ seldom used in​ terrorism,​ illegal immigration,​ espionage or​ alters the​ identity of​ the​ person permanently .​
Identity theft can also be a​ way of​ blackmailing a​ person by violating the​ privacy of​ the​ person .​
the​ illegal activities of​ the​ thief while using the​ name of​ the​ victim will have serious consequences such as​ the​ loss of​ job or​ the​ marriage.
The victims of​ identity theft are not solely the​ stable credit companies,​ but also who does not have much credit life for example,​ the​ students from college .​
They will be framed up by giving them fake credit accounts using their names .​

The students are the​ common victims because their personal information especially for schools that will post their grades by using their Social Security Number .​
And sometimes students do not even bother to​ protect such information .​
They do not check seriously their financial accounts .​
Mostly,​ credit card applications are sent by mail.
Identity theft crimes come from snatching of​ the​ wallet to​ big time fraud rings .​
Identity theft can happen when somebody gets your mail,​ your purse is​ stolen,​ or​ your records in​ an​ institution are swiped .​
This can be easily remedied if​ the​ thief is​ arrested early .​
the​ banks and creditors will only ask you​ to​ pay the​ first $50 of​ deceptive charges .​
However,​ those grave cases of​ deception will go on​ for so many years and more resources to​ be resolved .​
In view of​ this,​ there is​ no denying that there exists the​ danger of​ identity theft .​
Thus,​ everyone should do something so as​ to​ give the​ necessary protection.
There are some preventive measures for the​ commission of​ the​ crime .​
It is​ really not easy to​ keep your identity safe especially in​ our world wherein we find strangers who are always smiling .​
you​ do not know whether they are sincere or​ not .​
Hence,​ you​ should be aware of​ fraud and be very careful in​ sharing your personal information .​
Every month,​ make it​ a​ habit to​ monitor carefully your statement of​ accounts .​
you​ should strictly observe any unlawful activity about your credit report.
In order that your personal information and pre-approved credit offers will not be known by any unauthorized person,​ you​ should use the​ paper shredder.
The above mentioned measures will serve as​ precautions for everyone who will be possible victims of​ identity theft .​
Now if​ you​ are really serious about your identity and financial stability,​ then the​ best way to​ protect us from identity theft is​ to​ get an​ identity theft insurance .​
Many companies are offering this identity theft insurance which normally costs from $25 to​ $60 every year .​
You should bear in​ mind that identity theft insurance is​ not a​ guarantee which will prevent you​ from being a​ victim .​
Identity theft insurance will help you​ to​ recover from your plenty of​ losses due to​ identity theft .​

However,​ your direct monetary losses resulting from identity theft are not covered by identity theft insurance .​
Identity theft insurance will provide the​ coverage for the​ reclaiming of​ your financial identity like the​ expenses when making a​ phone call,​ reproducing copies; documents are mailed,​ taking a​ leave from office without pay and hiring your attorney.
There are to​ things to​ consider before you​ get an​ identity theft insurance.
· Know what are the​ policy limits.
· Inquire if​ there is​ something deductible.
· Take note that identity theft insurance does not include direct monetary losses.
· Make some verifications on​ what limits apply and what are the​ requirements to​ cause the​ coverage,​ when the​ insurance policy covers the​ lost wages.
· If the​ insurance policy includes the​ legal fees,​ then verify what limits apply and if​ there is​ a​ need for the​ insurer to​ approve the​ legal work.

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