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Can I benefit out from identity theft insurance?

By Derek Brown
Published: Thursday, December 3rd, 2009

Before opting for any such insurance policies you should keep in mind that identity theft insurance is being provided by companies that have failed to protect your identity. So think twice before you are lured into all such insurance policies. 

According to market experts, identity theft insurance is of no use and you don’t need to pay an extra amount to protect your identity. The insurance policies which are available won’t reimburse your financial damages or the amount which was stolen from you. The policies generally pay for the limited expenses like wages lost, and that too a maximum of $2000, and legal charges. But in cases of identity thefts you don’t need a lawyer and this is how such insurance companies bluff you.   

The main aspects of handling an identity theft case are, preparing the proper documents, dealing with the lenders and time factor. But these policies won’t lessen your burden and the tough task of dealing with the creditors will fall on your shoulders. 

Instead of spending your hard earned money on all these false insurance policies, you should spend some time in ensuring that your identity is safe and secured. Try to protect the social security number and pay bills online.

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