The Basics of Identity Theft Insurance

Identity theft occurs when someone gains access to your credit cards, account numbers, or computerized information intending to defraud. The Federal Trade Commission reported that identity theft affected more than 1.4 million Americans in 2021, so nearly anyone could be affected. Given the potential impact, feel free to contact the Shell Insurance Agency, serving Deer Park, TX, to determine whether identity theft insurance should be part of your insurance plan.

What’s Covered By Identity Theft Insurance?

Victims of identity theft may incur out-of-pocket expenses to fix the problem and spend substantial time doing so, and they may suffer direct financial losses. Identity theft policies range from basic to comprehensive, so the following list identifies how you could be affected by identity theft and the expenses and losses covered by different policies.

Out-of-pocket expenses may include:

  • Obtaining copies of your credit report
  • Notary, certified mail, and bank fees
  • Legal fees and court costs
  • Telephone costs

Due to the time required to repair your identity and reputation, some policies also cover the following:

  • Wages lost while resolving issues
  • Child care costs

More comprehensive policies may reimburse or cover the following:

  • Stolen funds
  • Credit monitoring
  • Identity restoration specialists who handle tasks so you can return to work.
  • Data restoration specialists (following a cyberattack)

Generally, those with more assets and whose time is most valuable need more comprehensive coverage, but everyone’s situation and needs differ. 

Working With Shell Insurance Agency

Many gain comfort knowing their families have identity theft protection. In a world where anything can happen, the Shell Insurance Agency team, serving Deer Park, TX, can help you gain that protection. So give us a call or stop in today.