Identity theft seems like something most people and businesses wouldn’t worry about. However, that isn’t always the case.
Identity theft seems like something most people and businesses wouldn’t worry about. However, that isn’t always the case. In the digital age, this crime has become even more prevalent. That’s one of the reasons why you might need identity theft protection insurance. Let’s learn more about it.
What Is It?
It’s helpful to begin by defining what identity theft protection insurance is. It is meant to cover victims of identity theft. It also helps them recover from their personal information being stolen. In the age of data breaches affecting companies all over the world, this type of protection has become even more valuable now more than ever. Data breaches are just one possible avenue of attack that identity thieves can use. Browsing through unsecured networks or websites can expose you and your employees to ID theft. Victims take hits to their finances and to their credit score. Fortunately, identity theft protection insurance makes a difference; it can help cover the cost of services and legal fees associated with the attempted or successful attack.
What Does It Cover?
Now let’s discuss what this policy is supposed to cover. At the most basic level, it helps to cover reimbursement of expenses triggered by identity theft. However, it cannot cover you for fraudulent credit card purchases or any stolen money. The following is a list of what the insurance program does cover:
- Lost wages
- Legal and notary fees
- Copies of credit reports
- Attorney and tax advisor fees
- Resolution services for credit and identity restoration
- Credit monitoring services
- Costs for certified mail or long-distance calls
- Other associated administrative fees
How to Get It
Finally, let’s talk about how you can procure identity theft protection insurance. These policies can often be included as riders with home insurance policies, or they can stand on their own. It’s best to find out what coverages, exceptions, and limitations you can expect with whatever policy you ultimately select. Get quotes from different providers, especially the team here at MWE Partnership!
Get Your Voluntary and Supplemental Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet the needs of all your employees. With over 17 years of experience, The MWE Partnerships is your one-stop-shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, then contact us today! Also, be sure to like our Facebook page and follow us on Twitter and LinkedIn for all the latest voluntary benefit news!