Definition
Identity theft coverage reimburses legal fees, credit monitoring, and recovery costs. It's particularly important for homeowners with mortgages.
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Identity theft coverage reimburses costs of correcting identity theft, including attorney fees, document restoration, lost wages, and credit monitoring services. Some policies include 24/7 hotline support and fraud resolution assistance. Coverage is particularly important for homeowners with mortgages, as identity theft can affect credit and financing. Many homeowners policies include modest identity theft coverage, but stand-alone policies provide more comprehensive protection. Cost is typically $50-150 annually.
Pro Tip
Consider identity theft coverage if you have significant assets or mortgages.
Example
Identity theft coverage paid $3,000 in legal fees and credit monitoring costs after the homeowner's personal information was compromised.