Do We Really Need Identity Theft Insurance?

The number of Americans who have been a victim of identity theft is in millions. With every year, this number is increasing.

No matter how safe you play it, you too can become a victim unless you take adequate measures to protect your information, and always have a backup plan in place.

Before we move on to figuring out whether we need identity theft insurance or not, let’s first understand what it really is.

What Is Identity Theft?

There are a number of ways one can become a victim of identity theft. Here are some of the most common ones:

  • When a fraudster ends up stealing your social security number, they’ll have access to pretty much everything you own. This will allow them to forge documents in your name and even open credit card accounts.
  • The prior information would also allow the imposter to file tax returns under your name, making you a victim of tax identity theft.
  • Through insurance ID theft, the thief can use all your medical insurance by sending their bill to your insurance provider.
  • Criminal identity theft refers to a crime that is done under your name. This crime includes felonies, such as stealing and theft using your driver’s license.
  • Your financial identity is stolen when fraudsters get access to your credit card information and make all sorts of purchases in your name.

Who Needs To Get Identity Theft Insurance?

In truth, everyone with a social security number and credit cards must be insured against identity theft.

The consequences of identity theft are colossal and it’s far better to have yourself insured than to keep your fingers crossed.

Keep in mind that identity theft insurance helps with protection against identify theft, and in case of theft helps with recouping some of the expenses of restoring and repairing the credit.

What Are The Common Signs of Identity Theft?

Don’t ever disregard some of the shady things you notice as suspicions. If you think something is off about your statement, then there probably is.

Here are some of the most obvious signs of identity theft, and you need to keep an eye out for them:

  • Your credit report will have bucket-load of errors with false information on it.
  • There will be charges on your credit card that you have no recollection of.
  • Debt collectors will start calling you regarding overdue payments.
  • Your bank account will have various withdrawals.

If you wish to safeguard your information and save yourself from the traumatic after-effects of identity theft, then make sure you get yourself insured. If you are looking for a reputable company to help you get insured, reach out to C. K. ASH Insurance.

We are conveniently located in Northern Kentucky within close proximity of the Greater Cincinnati International Airport, downtown Cincinnati and southeastern Indiana. If you live in the vicinity, we got you covered.