What Does $1M vs $5M Insurance Coverage Include?
Understanding your identity theft insurance benefits
John
Last Update il y a un an
Identity theft insurance helps cover the costs of recovering from identity theft. Here's what each coverage level includes:
$1 Million Coverage (Basic Plans):
Legal fees for identity theft cases
Lost wages during recovery (up to $500/week)
Phone calls and certified mail costs
Document replacement fees
Notary and administrative costs
Credit report fees
Travel expenses for court appearances
$5 Million Coverage (Complete Plans):
Everything in $1M coverage, plus:
Higher limits for all covered expenses
Extended lost wage coverage
Additional legal representation
Loan rejection costs
Re-application fees for denied credit
Professional consultation fees
Emergency cash advance ($500)
What's NOT covered:
Direct financial losses from fraud
Money was stolen from accounts
Fraudulent charges (these should be covered by your bank)
Preventive measures or monitoring services
Important to know:
Insurance covers recovery costs, not stolen money
Your bank or credit card company covers fraudulent charges
Coverage begins immediately when you enroll
No deductible for covered expenses
Claims can be filed 24/7
The insurance is designed to help you get your life back to normal after identity theft without the financial burden of recovery costs.