What Does Identity Theft Insurance in Salt Lake City Cover?
- Identity theft insurance coverage varies by provider. It’s important to read your policy or to ask questions of an insurance agent before choosing a product.
- Some identity theft insurance policies pay for the legal costs of dealing with a stolen identity.
- This type of insurance often pays for the costs associated with the situation. For instance, it may pay for phone calls, notary fees and other expenses incurred as you deal with the issue.
- Some policies pay for the losses not covered by other means, such as a credit card that reimburses you for fraudulent expenses to your account.
Understanding the Difference Between Identity Theft Insurance and Other CoverageIdentity theft insurance doesn’t work like home or auto insurance. It doesn’t typically pay out a lump sum based on how much money you have lost. Instead, it helps with the expenses of dealing with the theft. You will be the person who has to deal with the paperwork and documentation requirements instead of asking an agent to handle the task.
The payout may not be made until your creditors have settled with you for the amounts they are willing to reimburse you in the loss. Once that money has been received, your identity theft insurance policy may determine what amount is owed to you.Identity theft insurance is a complicated product that isn’t like other insurance policies. Make sure you understand what it is and what each specific policy covers before you select one. Choosing a policy can give you peace of mind, but don’t forget to take other precautions as well to protect your identity. Salt Lake Insurance offers coverage for people who are concerned with protecting their identity and the costs involved if a theft should occur to them.