(WVLT) - Insurance companies are coming to the rescue for victims of what the F.B.I. calls the fastest growing white collar crime in America...identity theft.
You can now get identity theft protection now from many insurance providers for as little as 25 dollars a year.
Insurance experts say on average, victims spend up to 600 hours and 1,400 dollars recovering from identity theft.
The coverage is added to homeowners, condo, or renter's insurance policies.
Most programs guide victims through the process of reclaiming their identities by helping policy holders obtain free credit reports, placing fraud alerts with all three credit reporting agencies, enrolling them in six months of daily credit monitoring, and writing dispute letters...
"If you don't have it, I.D. theft protection on your homeowners or renter's insurance, if you don't have that protection call your agent and add it, it's so reasonable, and it's peace of mind," Insurance Agent Randy Sparks says.
Most coverage will reimburse policy holders up to 25,000 dollars with no deductible, for the expenses associated with clearing their name and repairing their damaged credit.