IDENTITY FRAUD EXPENSE AND MANAGEMENT
FUNCTION:
This endorsement reimburses the policyholder up to $28,500 for certain actual, reasonable and necessary expenses needed to correct erroneous information and restore their credit when an unauthorized person begins using their identity. It provides professional advocacy services to assist the policyholder with any resolution details or other identity safety concerns.
EXAMPLE:
Sandy noticed that she was missing two checks in her checkbook. She notified her bank and found that the checks had been made payable to someone she didn’t know and cashed.Sandy was a victim of identity theft.
Sandy immediately went into action and contacted HelpPoint® Claim Services by Farmers®,who put her in touch with an advocate trained in identity theft resolution.Her advocate guided and assisted her with the actions she had to take such as reporting a theft to the police and completing a victim’s fraud affidavit. She was also provided contacts for credit bureaus and assistance in determining if her social security number had been compromised. When an arrest was made, she took time off of work to provide testimony. Her costs for obtaining the notarization of the fraud affidavit, long distance phone calls to credit services and lost wages for the testimony are expenses that could be reimbursed after the application of the $100 deductible. (The policy has a limit of $250 per day for a maximum of 10 days for lost wages.)
USAGE:
Owner-occupied, primary and secondary residence risks and all dwelling fire rental and vacant risks.
