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homowners Insurance -new policy question

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HeatherRose
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Member since 11/07

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homowners Insurance -new policy question

there is a line that adds identity theft up to a certain amount I think 500,000

I asked the ins guy if we could remove it

his response was its about $9 a year and they assist you if your identity is stolen

I had no clue this came with a policy, is this normal?

should I even keep it? I can't prove its really $9 because there isn't a breakdown for that line item

but do you think they will actually be helpful? Should I leave it on? Its not about the money, I just think its silly to think they could help in a case like that

Posted 2/18/10 11:40 AM
 
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jen919ifer
LIF Adolescent

Member since 7/08

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Name:
Jennifer

Re: homowners Insurance -new policy question

I put it on ALL policies, identity theft is very common today. The price can range but I would say the norm is $20 to $40 depending on the company. I wouldn't delete it, it's worth having.

Posted 2/18/10 11:43 AM
 

HeatherRose
Life is Good :)

Member since 11/07

6605 total posts

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Re: homowners Insurance -new policy question

Posted by jen919ifer

I put it on ALL policies, identity theft is very common today. The price can range but I would say the norm is $20 to $40 depending on the company. I wouldn't delete it, it's worth having.



thanks! in the case I need to use it, what services do they actually provide?

Posted 2/18/10 11:52 AM
 

jen919ifer
LIF Adolescent

Member since 7/08

803 total posts

Name:
Jennifer

Re: homowners Insurance -new policy question

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.

Posted 2/18/10 12:03 PM
 

HeatherRose
Life is Good :)

Member since 11/07

6605 total posts

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Re: homowners Insurance -new policy question

Posted by jen919ifer

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.



thanks! so it is worth keeping. we would have to pay our deductible that then anything on top of that they pay us back for?

Posted 2/18/10 12:16 PM
 

Smileyd17
kids

Member since 5/05

20997 total posts

Name:
Mommy

Re: homowners Insurance -new policy question

Posted by HeatherRose

Posted by jen919ifer

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.



thanks! so it is worth keeping. we would have to pay our deductible that then anything on top of that they pay us back for?



Yes in any claim/loss. you always pay your deductible.

Posted 2/18/10 12:46 PM
 

HeatherRose
Life is Good :)

Member since 11/07

6605 total posts

Name:

Re: homowners Insurance -new policy question

Posted by Smileyd17

Posted by HeatherRose

Posted by jen919ifer

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.



thanks! so it is worth keeping. we would have to pay our deductible that then anything on top of that they pay us back for?



Yes in any claim/loss. you always pay your deductible.



then I can't see how its worth keeping. I can't see it costing more then my deductable to repair it, its more time then anything else, right??

Posted 2/18/10 2:13 PM
 

jgl
Love my little boys!!!

Member since 8/07

7060 total posts

Name:
g

Re: homowners Insurance -new policy question

Posted by HeatherRose

Posted by Smileyd17

Posted by HeatherRose

Posted by jen919ifer

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.



thanks! so it is worth keeping. we would have to pay our deductible that then anything on top of that they pay us back for?



Yes in any claim/loss. you always pay your deductible.



then I can't see how its worth keeping. I can't see it costing more then my deductable to repair it, its more time then anything else, right??





it can if it is a big case of theft and more than just someone used your card 1 time. I just always assume that something like identity theft would be big bucks to correct. I would keep it. It isnt much money added to your policy.

Posted 2/18/10 2:47 PM
 

ave1024
I Took The Wrong Road

Member since 12/07

6052 total posts

Name:
That Led To The Wrong Tendencies

Re: homowners Insurance -new policy question

Posted by jen919ifer

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.




What are the real costs though? What are some legitimate costs that the insurance company will cover?

I ask because most everything related to credit and identity theft can be done by the person themselves.

I am curious how the homeowners company would get involved and what would they do exactly.

Posted 2/18/10 2:58 PM
 

ave1024
I Took The Wrong Road

Member since 12/07

6052 total posts

Name:
That Led To The Wrong Tendencies

Re: homowners Insurance -new policy question

Posted by jgl

Posted by HeatherRose

Posted by Smileyd17

Posted by HeatherRose

Posted by jen919ifer

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.



thanks! so it is worth keeping. we would have to pay our deductible that then anything on top of that they pay us back for?



Yes in any claim/loss. you always pay your deductible.



then I can't see how its worth keeping. I can't see it costing more then my deductable to repair it, its more time then anything else, right??





it can if it is a big case of theft and more than just someone used your card 1 time. I just always assume that something like identity theft would be big bucks to correct. I would keep it. It isnt much money added to your policy.





I have to agree with HeatherRose here. I am curious how bad (regarding cost) would identity theft have to be for me to make a homeowners insurance claim *and* pay a deductable.

I for one would NEVER make a homeowners claim unless my house literally burnt down to the ground. It's hard enough to get homeowners insurance in Long Island. I would not give the insurance company any reason to drop me.

Posted 2/18/10 3:00 PM
 

jgl
Love my little boys!!!

Member since 8/07

7060 total posts

Name:
g

Re: homowners Insurance -new policy question

Posted by ave1024

Posted by jgl

Posted by HeatherRose

Posted by Smileyd17

Posted by HeatherRose

Posted by jen919ifer

In a nutshell they will pay for most costs consumed by restoring your identity back to what it was before the theft.



thanks! so it is worth keeping. we would have to pay our deductible that then anything on top of that they pay us back for?



Yes in any claim/loss. you always pay your deductible.



then I can't see how its worth keeping. I can't see it costing more then my deductable to repair it, its more time then anything else, right??





it can if it is a big case of theft and more than just someone used your card 1 time. I just always assume that something like identity theft would be big bucks to correct. I would keep it. It isnt much money added to your policy.





I have to agree with HeatherRose here. I am curious how bad (regarding cost) would identity theft have to be for me to make a homeowners insurance claim *and* pay a deductable.

I for one would NEVER make a homeowners claim unless my house literally burnt down to the ground. It's hard enough to get homeowners insurance in Long Island. I would not give the insurance company any reason to drop me.



im just thinking if someone steals your identity and robs you of 10s of thousands of dollars. I would just think that it might be some peace of mind to have that backup, if it is only a few dollars extra a month

Posted 2/18/10 4:02 PM
 

HeatherRose
Life is Good :)

Member since 11/07

6605 total posts

Name:

Re: homowners Insurance -new policy question

Posted by ave1024


I have to agree with HeatherRose here. I am curious how bad (regarding cost) would identity theft have to be for me to make a homeowners insurance claim *and* pay a deductable.

I for one would NEVER make a homeowners claim unless my house literally burnt down to the ground. It's hard enough to get homeowners insurance in Long Island. I would not give the insurance company any reason to drop me.



this is sort of what I am thinking. It more leg work then actual costs. its not like they are saying they would replace the $ in my bank account and fight it out like the credit cards do. if that was the case I could see it *might* be worth it.

I know its $9 so I'm sure I will just leave it on, but I would like to see that it is only $9. if its $20-$40 a year I think I will drop that. over the course of a few years that adds up, and I highly doubt the coverage is something I would even consider. I can't even see paying my deductible for it, and then it costing more on top of that!

Anyone else have it on their homeowners Insurance? I've never heard it mentioned

Posted 2/18/10 4:24 PM
 

dani731
Blessed!!!

Member since 1/08

3355 total posts

Name:
D

Re: homowners Insurance -new policy question

You can get this same type of service somewhere else. Having it on your homeowners policy is not you only option. I would remove it from the policy since you would have to make a claim to use the service.

Most banks, credit unions and credit cards offer the same type of service for similar fees.

Posted 2/18/10 4:58 PM
 

jen919ifer
LIF Adolescent

Member since 7/08

803 total posts

Name:
Jennifer

Re: homowners Insurance -new policy question

It varies by company, but a lot of carriers only charge a $250 dedutible to use this coverage, not your regular deductible. It wouldn't make sense to have it if you had to pay a $1000 deductible.
But they will provide you with a one on one counselor who will deal with the credit companies for you, you would be reimbursed for wage loss if you have to go to court, all certified mailing and all phone calls would be paid for etc....
It is a good coverage to have, you appreciate it more if you have to use it LOL, but that goes with all homeowner coverage, I hear complaints all day, but when there is a claim people let out a sigh of relief that they have the extra coverage. It's just one of those things...

Message edited 2/18/2010 6:14:37 PM.

Posted 2/18/10 6:13 PM
 
 

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