In an informative post, Pushpa Sathish describes identity theft insurance as insurance that provides reimbursement to victims of identity theft so that they can restore their identity and repair their credit reports. He goes on to state that the typical policy also provides reimbursement for expenses such as phone bills, lost wages, mailing costs and sometimes attorney fees.
The Insurance Information Institute identifies Identity Theft Insurance as a specialty type of insurance. According to the Insurance Information Institute, these policies cost between $25 and $50 for $15,000 to $25,000 worth of coverage. Identity theft insurance provides reimbursement for expenses such as phone bills, lost wages, notary and certified mailing costs and sometimes attorney fees with the prior consent of the insurer. The Insurance Information Insitute site provides the following list of identity theft insurance providers:
AMERICAN INTERNATIONAL GROUP
AIG provides a product called Personal Identity Coverage
CHUBB GROUP OF INSURANCE COMPANIES
Chubb includes identity theft coverage in homeowners policies in nearly all 50 states, as well as in Washington, DC.
Encompass Insurance offers a product called Identity Fraud Insurance.
Erie Insurance offers a product called Identity Recovery Coverage
Farmers Group, Inc. offers a product called Identity Fraud Expense Coverage.
FIREMAN’S FUND
Fireman’s Fund offers a product called Identity Theft Restoration Services.
Liberty Mutual offers a product called Identity Fraud Expense Coverage.
Nationwide offers a product called Identity Theft Protection.
TRAVELERS INSURANCE
Travelers Insurance offers a product called Identity Theft Protection.
WEST BEND MUTUAL
West Bend Mutual offers a product called Identity Theft Resolution.
