How You Can Insure Against Identity Theft:
If you are a victim of identity theft, it can be costly to reestablish your credit and identity. Several companies offer identity theft insurance, which generally costs between $25 and $60 per year. Identity theft insurance cannot protect you from becoming a victim of identity theft and does not cover direct monetary losses incurred as result of identity theft. Rather, this coverage pays for expenses related to reclaiming your financial identity, such as lost wages, attorney fees and documentation reporting.Additional Considerations When Buying Identify Theft Insurance Coverage:
What To Do Before You Buy Identity Theft Insurance:
Check to see if your current homeowner’s policy includes identity theft insurance as part of your coverage. If not, you may be able to add identity theft insurance to your policy for a small fee or purchase a stand-alone policy from another insurer.
As with any insurance product, make sure you understand what you are purchasing and compare the product's price, coverage and deductibles among multiple insurers.
What To Do If You Believe that Your Personal Information Has Been Compromised:
About the Maryland Insurance Administration
The Maryland Insurance Administration is an independent State agency charged with regulating Maryland’s $28.5 billion insurance industry. For more information about the Insurance Administration, please visit www.insurance.maryland.gov or follow us on Facebook at www.facebook.com/MDInsuranceAdmin or Twitter at @MD_Insurance.# # #
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