A hot item in recent times for insurance companies is identity theft insurance. Basically, you pay a premium to your insurance company and if you are the victim of identity theft, they will help you sort it out and reimburse you for anything lost.
An article detailing these identity theft insurance policies makes some important points for consideration, however. On the one hand it is very comforting to know that if you are victimized, someone will be there to hold your hand and help you out while everything gets sorted out. On the other hand, there's really no need for identity theft insurance if you take the proper precautions which are really common sense. Further, having such an insurance policy might make the insured become lax about their own identity theft prevention, which may be a worse situation entirely.
There are those who think the insurance is a positive thing. Quoted from the article, Terry Hoefle said, "If you have this problem, it saves a lot of stress and a lot of time. Plus, if your credit score has been damaged, you will pay more for loans, insurance rates and all sorts of other things. So, with even the slightest identity theft problem, it will more than pay for itself."
So, has anyone here taken out an identity theft insurance policy? Had to use it? Share with us in the forum! |