Identity Theft Insurance Policy
A report by the Federal Trade Commission reveals that in 2005
, about 8.3 million people in the US have been victims of identity theft. Of the cases reported, about half resulted to about $500 in damages while 10% has caused $6,000 worth of damages. Apparently, along with the improvement of technology, cases of identity theft continue to increase more than ever. In fact, identity thieves have come up with new and more efficient tactics of stealing precious information from unsuspecting victims.As an example, "skimming" is one of the most common way to steal information particularly in restaurants and it is done with the use a small "skimming device". When you hand over your credit card to the waiter, your credit card details can be instantly stolen from you without your slightest hint or knowledge.
Identity thieves also steal information over the web. This type of scam is called "phishing" and anyone who is not aware of this particular strategy can easily fall prey. "Phishing" is done by sending out an e-mail claiming to be from a reputable merchant, company or government organization. The recipient may be requested to provide some personal information by sending a reply to the e-mail.
Some emails may offer you a link to a website that might "seem to be" or "appear to be" genuine or authentic. This may lead you to a page where you will be asked to provide personal information before hitting the submit button. These fake websites had been made to look like a genuine one, which fools unsuspecting consumers.
Getting an Identity Theft Insurance Policy
Obviously, everyone must be alert and exercise caution to avoid being a victim of identity theft. One way to protect yourself from the troubles that identity theft may cause is by getting an identity theft insurance policy. Typically, insurance companies include identity theft coverage as part of their insurance package. Thus, in case of identity theft, the insurance policy holder can have the assistance he or she needs. But how do you choose the right identity theft insurance policy?
The first thing to do is to carefully examine the policy's coverage. You should be well-aware of the exact coverage of the insurance policy. For instance, what if you've been denied credit? In some cases, a person only realizes that he has been a victim of ID theft after being rejected by a lender. If this happens, will your policy give you the option to reapply for credit and delete these derogatory remarks from your credit report?
You should also be aware of how the policy protects your from lost wages. How long will it take to solve the complications that resulted from your stolen identity? What about the deductibles? How much will you need to spend out of your own pocket to reach a solution? Will your identity theft policy include attorney's fees in case you need the assistance of a lawyer?
Lastly, after you have fully analyzed and understood each terms of the identity theft policy, the next step is to compare the premiums each insurance company offers. Unquestionably, you'll want to obtain an insurance policy that gives you the services you need at a reasonable cost.
Copyright (c) 2010 Suzy Vanstrusen
by: Suzy Vanstrusen Why Should You Consider an Umbrella Insurance Policy? How To Lower Your Insurance Premiums Local Philippines: Be Cool in Bicol by:Allan Leandro Merin What exactly is laptop insurance policies? Antoine de Paris Cuticle Nipper Wedding Insurance New York City Pilates Instructor Insurance Is Mandatory Action You Can Take to Fill Your Irvine Insurance Coverage Needs Gap Insurance Injury Lawyers And Insurance Policies The Fundamentals of Disability Insurance Do You Need Disability Income Insurance? Be Assured With Residential Landlord Insurance Eye And Vision Insurance