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How Home Insurance Can Safeguard You Against Identity Theft

In Wisconsin and the rest of the country, Cyber criminals continue finding new methods to access personal information, posing a significant risk to individuals and their financial security. While identity theft protection services are available, homeowners may not be aware that their home insurance may have a role in safeguarding them against this threat.

Home Insurance and Identity Theft Coverage

Many homeowners’ insurance policies include identity theft coverage as an optional endorsement or a built-in feature. This coverage offers protection against the financial and legal consequences of identity theft. Here’s how it works: 

1. Identity Theft Expense Reimbursement: If you fall victim to identity theft, you may incur expenses related to restoring your identity. These expenses include legal fees, notary fees, and costs associated with obtaining credit reports. Home insurance policies with identity theft coverage may reimburse you for these expenses, relieving the financial burden of recovery.

2. Lost Wages: Dealing with identity theft often requires significant time and effort, which can result in lost wages. Some policies offer coverage for the income you may have lost while resolving the issue.

3. Fraudulent Charges: If an identity thief uses your financial information to make unauthorized charges, your home insurance policy may cover the cost of those fraudulent transactions.

4. Legal Assistance: Resolving identity theft can involve complex legal processes. Identity theft coverage can assist legal experts, helping you navigate the legal intricacies of identity theft.

5. Credit Monitoring and Alerts: Some home insurance policies include credit monitoring services and alerts, which can help you detect suspicious activities related to your credit and financial information, allowing for timely intervention.

OnQuote Insurance Can Help You

At OnQuote Insurance, we can help answer questions concerning home insurance. We serve the state of Wisconsin. Contact us today.