Impersonating a victim, stealing from bank accounts, obtaining unauthorized loans and establishing phony insurance policies by taking and using someone’s personal information, is what is meant by identity theft. Stolen or lost documents containing personal information about the victim is what usually causes identity theft.
Your health insurance can also be subjected to this identify theft. If missing the deadline for Obamacare and out of pocket cost weren’t enough to keep you worried, you now have the added risk of identity theft to worry about. However, a solution in the form of identity theft insurance is available to you so that you don’t have to worry about your health insurance under the affordable care act/Obamacare.
Identity Theft Insurance
Some degree of identity theft insurance as part of their homeowners’ insurance policies is being offered by many insurance companies. Homeowners and renters insurance policies are sold as identity theft insurance by other companies for a relatively affordable price. These identity theft insurance policies provide coverage ranging from $10,000 to up to $1 million. The following things are covered under this type of insurance.
- Credit scores are repaired and the cost of restoring your identity is reimbursed
- Expenses such as notary and certified mailing costs, lost wages and phone bills are reimbursed
- In order to help you navigate the recovery process, there are resolution or restoration services.
- The identity theft coverage is usually subjected to a deductible.
- Any funds that are stolen as a result of your identity being stolen will not be reimbursed by identity theft insurance.
- Cash up to $200 or $50 for credit cards is likely to be covered by your homeowners or renters insurance policy.
Identity theft policies can be purchased by choosing from numerous available choices. These policies are sold through insurance agents, identity theft protection companies, banks and credit unions, and credit bureaus, but are underwritten and produced by insurance companies.
Theft cash up to $200, or credit cards up to$50, will be covered by your homeowners or renters insurance although coverage for identity theft is also included in some homeowners’ policies now. Identity theft insurance can often be added for about $25 to $50 per year if it isn’t included within your homeowners’ policy.
It is important for you to take steps to protect your identity, as identity theft is becoming ever so prevalent. A lot of people are experience a breach of their credit or debit cards these days and you may be one of them. Our personal information can be stolen easily with the swipe of a card which is not only a rude awakening for us but a valuable lesson as well. If you want to know more about identity theft insurance and other identity theft protection options you need to contact an insurance company.
If you want to make sure that your health insurance under the affordable care cat/Obamacare isn’t subjected to identity theft then the sensible thing for you to do is to get insured for identity theft.