Identity Theft Insurance
Coverage reimbursing the cost of restoring a stolen identity rather than the stolen money itself.
Overview
Covered expenses include legal fees, notarization, mailing, lost wages for time spent clearing records, loan reapplication fees, and sometimes counseling costs. Limits commonly run 15,000 to 30,000 dollars with sublimits on wages and legal costs, and deductibles are small. The product rides on homeowners and renters policies for a few dollars or comes bundled with monitoring services and premium card programs. It pays for the aftermath: victims spend dozens to hundreds of hours resolving cases, and extreme medical or criminal identity theft can take years to unwind. Prevention measures such as credit freezes are free and more effective than any policy, so the coverage is a backstop rather than armor.
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