The holiday season means more online shopping, more delivery notifications, and more scam texts and emails trying to grab personal information. For renters in Rockledge and across the Philadelphia area, identity theft can be a stressful, time-consuming problem to untangle. Many renters policies offer an optional identity theft endorsement, and it’s worth understanding what it does and doesn’t do.
Your Identity Theft Coverage Questions, Answered
What does identity theft coverage usually include?
Coverage varies, but many endorsements help with certain expenses tied to restoring your identity. That can include costs like certified mail, notarized documents, reapplying for loans that were denied because of fraud, and some lost wages for time spent resolving the problem. Some policies also include access to a recovery specialist who helps you work through the process.
Does it pay back money stolen from my accounts?
Usually not. Identity theft coverage is generally designed to help with recovery costs, not to replace funds taken from bank or credit accounts. Banks and card issuers have their own fraud procedures for that.
Is it the same as credit monitoring?
No. Credit monitoring alerts you to changes on your credit report. Identity theft coverage helps after fraud happens. Some people use both.
Who is covered?
Many endorsements cover the named insured and certain household members, but definitions vary. Check who’s included on your policy.
If You Suspect Identity Theft
- Contact your bank and card issuers right away
- Report the theft through the Federal Trade Commission’s IdentityTheft.gov
- Consider placing a free credit freeze with the three major credit bureaus
- File a police report if needed
- Notify your insurance agent if you have identity theft coverage
Simple Ways to Lower the Risk
- Be cautious with texts or emails about package deliveries
- Use strong, unique passwords and multi-factor authentication
- Shred mail with personal information
McHugh Insurance LLC in Rockledge, PA can explain whether identity theft coverage is available on your renters insurance policy. Policy terms vary by carrier. Renters across Rockledge, PA and the Philadelphia area can reach out to McHugh Insurance LLC or browse our insurance blog.
