As the threat of identity theft increases in Florida, a number of homeowners insurance companies have rolled out new policy add-ons intended to protect their customers’ livelihoods.
Identity theft occurs when personal information, such as a name, social security number or credit card number, is used without the person’s consent. While high net worth individuals are typically the preferred prey, identity thieves target everyone.
The Sunshine State ranked No. 2 on the list of states with the highest number of identity theft complaints per 100,000 population, according to the Insurance Information Institute. Last year, 16.7 million people fell victim to identity fraud – a record high that follows a previous record a year before.
In response to this growing threat, Florida homeowners insurance companies have introduced new products that offer, among other benefits, offer identity monitoring and reimbursement in the event of a loss. Below are a few of those products along with what they offer and how much they cost.
Security First
This insurer offers an identity theft protection program that includes an ‘identity fraud monitoring’ service that can catch a fraud early. It also monitors your personal information on the internet.
If your identity is stolen, the program will guide you through the process of restoring your identity. Policyholders can also be reimbursed up to $25,000 for expenses incurred from identity fraud.
Security First’s program costs $25 per year and can be added to a current policy. More information is available here.
American Integrity
This insurer’s identity theft coverage provides both reimbursements as well as restoration case management. Expense reimbursements can include legal fees and credit reports.
Affected policyholders may also claim lost wages and child or elder care for up to $5,000; mental health counseling costs for up to $1,000; and miscellaneous expenses for up to $1,000.
This coverage is included in the Silver, Gold, and Diamond endorsement bundles, or can be purchased as a standalone endorsement on a homeowners policy for $25.
Get more information here.
Florida Peninsula
Identity theft protection is also offered by this insurer for an annual premium of $25. This coverage is intended to restore the policyholder’s credit back to the level it was prior to the breach.
For more information about Florida Peninsula’s coverage, contact an agent here.
Heritage Insurance
The Heritage ID Theft Protection offers credit monitoring and coverage for the entire family. Policyholders will be reimbursed for expenses incurred as a result of a theft. They will also be assisted when filing a police report.
Get more information here.
