Allstate Insurance Company has unveiled its latest offering to residents of California, which consists of identity theft expenses coverage, that will help to minimize the cost and the time needed by victims who need to salvage their identities.
Every year, approximately 9 million people in the United States fall victim to identity theft, resulting in millions of dollars and hours spent for the recovery of the stolen identities.
According to Assistant Field Vice President Phil Telgenhoff from Allstate, the victims of some of the more challenging cases of identity theft can easily spend more than 100 hours in the effort to resolve the issues that were left behind by the crime. He added that customers of Allstate auto insurance can now “have the burden of these arduous tasks handled by professionals who make a truly difficult situation become bearable.”
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Customers can obtain identity theft expenses coverage through a new auto insurance policy with the insurer, or through a renewed policy, in the state of California. The coverage can be as inexpensive as an annual rate of $30, and it gives the policyholder access to restoration assistance for their professional identity.
The protection offers policyholders a reimbursement coverage of up to $25,000 for reasonable expenses that have occurred as a result of the restoration of the identity, including loan reapplication fees, attorney fees, police report fees, credit report fees, and lost wages.
Victims of identity theft may find that this is a welcome relief as it can be an exceptionally trying time. In fact, the Federal Trade Commission has stated that a large number of victims of this crime aren’t even aware of how to get started in the process of recovering their identities.