Identity Fraud

Identity fraud is something we constantly hear about and in today's society is a real concern. All it takes is someone getting your personal information to turn your whole world upside down. One usually would not have to look very far to find someone they know who has been a victim of some sort of identity fraud.

So what happens if you find yourself the victim of identity theft or fraud? After you have contacted all the authorities and credit bureaus, who is going to help with the expenses that start to pile up?

Expenses one could usually expect are:
*Cost for notarizing affidavits or attesting to fraud required by some financial institutions or similar credit granters,
*Cost for certified mail to necessary law enforcement and credit agencies,
*Lost income from having to take off work to deal with necessary authorities and credit agencies,
*Attorney fees to defend law suits, remove criminal or civil judgment in connection to identity fraud and challenge accuracy in a consumer credit report,
*Loan application fees for re-applying for loans which you are turned down for due to incorrect credit information,
*Charges for long distance telephone calls to merchants, law enforcement and credit agencies.

Fortunately, if you have the right agent and home owners insurance carrier you may have help to cover those expenses listed above. Some insurance companies have added an endorsement for personal identity fraud to their policy form. One example is, a company that ABI Insurance writes insurance through, State Auto Insurance Company that will pay up to $15,000 for expenses incurred as the direct result of identity fraud, including limited loss of income and legal fees.

While the policy is, in most cases, limited to expenses incurred, it is nice to know when facing the cost of identity fraud you have this coverage available. Your current home owners may or may not give you this safeguard so a review of your policy is recommended. All insurance is not the same when it comes to identity fraud policies, coverage and limits can vary significantly.

At ABI Insurance Agency we are able to shop your insurance to several different markets and compare not only identity fraud but many other coverage's as well. You will also get the personal attention and help you need to explain the differences in protection and the many other options available to you. If you have concerns about your current policy as to if it provides expense reimbursement for identity fraud, one of our agents will be more than happy to perform a free policy review and comparison. Or if you're concerned about any other coverage or your current insurance cost, ABI will compare several different insurance companies for you and possible savings.

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