What is the definition of Identity Theft Insurance?

Identity Theft Insurance provides protection for losses and expenses resulting from identity theft.

This is a new kind of insurance and helps cover a cost when a person has to recover financially in the event that his identity is stolen. Identity theft means the act of using another person's identity. That is, the crime of pretending to be someone else in order to get or steal money or obtain benefits.

Identity Theft insurance will pay for costs such as the loss of income because the victim had to meet with credit agencies or lawyers, the legal costs involved including attorney's fees and defense fees, as well as the cost of notarizing affidavits regarding fraud. There may also be associated costs involved for reapplying for loans.

• Insolvency
• Misstatement of Age or Sex Provision
• Modified Premium Policies
• Moral Hazard
• Comprehensive Coverage