| Identity Theft Coverage |
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| Written by Andrew Scherer |
| Thursday, 14 October 2010 11:58 |
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The various identity theft coverage services include credit monitoring, reimbursement services, resolutions services, restoration services, and identity theft protection. Credit monitoring services provide customer alerts regarding the activities involving their credit report. These alerts comprise of increases in balance and addition of accounts. Credit monitoring services do not cover all areas of identity theft. They do not provide detection for unauthorized withdrawals and stolen credit cards.
The various identity theft coverage services include credit monitoring, reimbursement services, resolutions services, restoration services, and identity theft protection. Credit monitoring services provide customer alerts regarding the activities involving their credit report. These alerts comprise of increases in balance and addition of accounts. Credit monitoring services do not cover all areas of identity theft. They do not provide detection for unauthorized withdrawals and stolen credit cards. Reimbursement services provide coverage for victims of identity theft. They work to recover some or all financial losses that were caused by identity theft. These may be offered through insurance policies. In general, reimbursement services provide emergency cash for severe cases of identity theft. Fund recovery may go up to 15,000 to 30,000 USD, with low or no deductible. There may also be a provision offered for reimbursement of salary for missed days of work. The type of identity theft coverage that provides assistance in restoring what was stolen is called resolutions services. There are companies that include "recovery packets" which contain form letters, contact numbers, and software programs or forms to track progress. These are similar to restoration services, except the company does all the work and research once a signed limited power of attorney is received from the customer. Restoration services cost a little more than resolution services. This may be a good option if the customer prefers to have someone do all the work. Identity theft prevention services provide reporting, such as credit reports, social security numbers, drivers' licenses, public reports, bank accounts, internet security, medical records, new applications, and address changes. Some identity theft prevention services offer a 1 million USD theft insurance guarantee. Most companies also offer a trial period for customers good for 30 days and gives free credit reports from the major credit bureaus. Diligence is very important during the process of selecting a company that would provide you identity theft coverage. Be advised that there are some companies that may have false claims about their services. It's important to do your own research first analyse customer reviews written about these companies. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Written by Andrew Scherer. Visit www.IdentityZine.com to know more about the different types of identity theft coverage. |