Did you know that almost 1 in 4 consumers are a victim of identity fraud?  One study, conducted by Javelin Strategy & Research*,  found that consumers who had their Social Security number compromised in a data breach were 5 times more likely to be a fraud victim than an average consumer.  Overall, identity fraud increased in 2012 for the second consecutive year, affecting 5.26% of U.S. adults.  This increase was driven by dramatic jumps in the two most severe fraud types: new account fraud and account take over fraud.

Lighthouse Property Insurance Corporation offers Identity Theft Expense and Resolution Services Coverage, which can be added to your Homeowners policy.  Not only do we reimburse you for certain expenses, but we have access to consumer fraud specialists who will assist you in the process of restoring your identity. Specialists will assist in ordering your credit report, alerting credit report agencies, provide credit monitoring, and prepare documentation and letters.

What is covered?
Identity Fraud Expense Coverage will provide up to $25,000 with no deductible, for expenses incurred by an insured as a direct result of any one identity theft discovered during the policy period such as:

• Costs for notarizing appropriate documents for financial institutions, credit grantors or credit agencies.
• Approved reasonable attorney fees.
• Costs for certified mail to law enforcement agencies, credit agencies, financial institutions, etc.
• Loan application fees for re-applying for a loan or loans due to credit fraud.
• Charges incurred for long distance telephone calls to merchants, law enforcement agencies, financial institutions, etc. to report or discuss an actual identity theft.
• Costs for daycare and eldercare incurred as a direct result of identity theft.

Certain exclusions do apply, so make sure to review these with your insurance agent.

4 easy steps to keep your information secured.**

1. Secure your Social Security number.  Keep a close hold on your number and ask questions before deciding to share it.
2. Keep your personal information secured offline.  Lock your financial documents and records in a safe place at home, and lock your wallet or purse in a safe place at work.  Keep your information secure from roommates or workers who come into your home.
3. Keep your personal information secured online.  Be alert to impersonators, encrypt your data, keep passwords private and change them every so often, and don’t overshare on social networking sites.
4. Keep your devices secure.  Use security software, avoid phishing emails, be careful on what you share on public wireless networks, and lock up your laptop.

Practice these safety tips listed above and add Identity Theft Expense and Resolution Services Coverage to your Lighthouse homeowners policy today.  If you do not have a Lighthouse homeowners policy and would like more information, visit our Agent Locator to find an agent in your community.

* Javelin Strategy & Research 2012 Identity Fraud Survey Report

**Federal Trade Commission, Consumer Information Privacy & Identity