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Lewes, Delaware
Jim's Towing Service
February 17, 2006     Cape Gazette
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February 17, 2006

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CAPE GAZE'FFE Friday, Feb. 17 - Monday, Feb. 20, 2006 - 45 Use caution when choosing identity theft insurance ing copies, icy from another insurer, bank or Matt Denn warns mailing docu- credit card company. of policy limitations Insurance Commissioner Matt Denn is alerting consumers to the fact that some insurance compa- nies are now offering insurance against identity theft, but con= sumers should be aware of what they are getting - and what they are not getting - before purchas- ing such a policy. Identity theft oct:urs when a person uses personal information, such as Social Security number and date of birth, with the intent to commit fraud or to aid an unlaw- ful activity. Once personal infor- mation is obtained, the person may open new credit card accounts in the stolen name, open bank accounts to write bad checks or take out a loan. Federal law already provides a $50 liability limit for the fraudu- lent use of credit cards. Because of this, most identity theft victims never incur a high amount of direct monetary losses, Denn said. As a result of the increasing prevalence of identity theft, sever- al companies are now offering identity theft insurance, which generally costs between $25 and $60 per year. "Identity theft insurance cannot protect you from becoming a vic- tim of identity theft and does not cover direct monetary losses incurred as result of identity theft," Denn said. "Instead, iden- tity theft insurance provides cov- erage for the cost of reclaiming your financial identity, such as the costs of making phone calls, mak- ments, taking time off from work without pay and hiring an attorney." Denn sug- gested con- sumers to on- DENN sider the fol- lowing points if they are thinking of purchasing an identity theft policy: Identity theft insurance almost always does not cover direct mon- etary losses Most identity theft insurance policies have policy limits of $10,000 to $15,000 Some policies require people to pay the first $100 to $500 of costs incurred for reclaiming financial identity If the policy covers lost wages, verify what limits apply and what is required to trigger this coverage; those who are a salaried employee or are required to request vacation time in the event of a work absence associated with reclaiming financial identity may not have unpaid leave and lost wages If the policy covers legal fees, verify what limits apply and if legal work needs to be preap- proved by the insurer Check to see if the current homeowner insurer includes iden- tity theft insurance as part of the homeowner's insurance. If not, homeowners may be able to add identity theft insurance to their homeowner's policy for a small fee or purchase a stand-alone pol- "If you still believe that identity theft insurance is a good deal for you, make sure you understand what you are purchasing and com- pare the product's price, coverage and deductibles among a number of companies," Denn said. Need some work done in your home or garden? Try Cape Services: pages 171-174 OUR SERVICES INCLUDE: Ceiling Fan & Light Fixture Installation, Electric Repair, Service i Panel Upgrades, Additional Outlets, New & Old Construction, Cable TV & Telephone Wiring " i=,,,lmlm I:.tol [oihnmt,,,l:r,m,lnlolenlolmmm:m.-n p| ,-'ul" ]:[ia Welcome to the Neighborhood... INTEOPUCING THE P.,IVEP. POCK P, UN COLLECTION COP.IAN & GP, ANITE  KEMOP.E APPLIANCE PACKAGE PELTA 5ERtES FXTURES  TLE IN SELECT P, DOMS