Identity fraud is a growing problem with the rise in popularity of Internet quotes on auto insurance and online banking. Although victims can end up not being liable for lost money, it can be very pricey for the victim to prove their innocence. Their credit rating can also be destroyed which may take years to repair.
Many insurance companies are offering protection to their policy holders to help them avoid this disaster. Encompass Car Insurance is one of those companies and on their website they outline what their Identity Fraud Protection covers. They will pay up to $20,000 for expenses incurred as a result of identity theft. They will also cover lost wages up to $500 per week for up to 4 weeks for time away from work because of the fraud.
Some other benefits of the products are covered loan fees if you are denied a loan due to incorrect information caused by the fraud and any new application fees incurred. With prior approval from Encompass Car Insurance they will also pay for reasonable lawyer fees. If a lawyer is used to defend you against any lawsuits are filed against you by any merchants or collection agencies, Encompass will help you. This is an extremely valuable benefit to have through your insurance company, and not all companies offer it. Be sure to look into what kind of protection you may have. It could save you a lot of time and money.