subject: Different Types Of Identity Theft Coverage [print this page] The various identity theft coverage services include credit monitoring, reimbursement services, resolutions services, restoration services, and identity theft protection. Credit monitoring services provide customer alerts regarding the activities involving their credit report. These alerts comprise of increases in balance and addition of accounts. Credit monitoring services do not cover all areas of identity theft. They do not provide detection for unauthorized withdrawals and stolen credit cards.
Reimbursement services are another type of identity theft coverage that helps people who have been victimized by identity theft to recover some, if not all, of their financial losses due to identity theft. These services may sometimes be included in auto insurance and homeowners' insurance policies. These services provide emergency cash and fund recovery that amounts to 15 thousand to 30 thousand USD for severe cases of identity theft. These services may also include a provision that reimburses salary for an employee's missed days of work.
The type of identity theft coverage that provides assistance in restoring what was stolen is called resolutions services. There are companies that include "recovery packets" which contain form letters, contact numbers, and software programs or forms to track progress. These are similar to restoration services, except the company does all the work and research once a signed limited power of attorney is received from the customer. Restoration services cost a little more than resolution services. This may be a good option if the customer prefers to have someone do all the work.
Identity theft prevention services provide reporting, such as credit reports, social security numbers, drivers' licenses, public reports, bank accounts, internet security, medical records, new applications, and address changes. Some identity theft prevention services offer a 1 million USD theft insurance guarantee. Most companies also offer a trial period for customers good for 30 days and gives free credit reports from the major credit bureaus.
Diligence is very important during the process of selecting a company that would provide you identity theft coverage. Be advised that there are some companies that may have false claims about their services. It's important to do your own research first analyse customer reviews written about these companies.
by: Andrew Scherer.
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