In the digital age, information is only a click away. While this makes daily life more convenient, such accessibility also makes it easier for unauthorized users to view and take your personal information. Fortunately, insurance agencies provide identity theft coverage to reduce the financial impact of such incidents. Here's a closer look at why you should add this type of coverage to one of your policies.

3 Facts About Identity Theft in the United States

1. Millions of People Are Impacted

Over 14 million people, or about 18% of the total adult population in the U.S., experience identity fraud each year.

Credit cards, including new and existing accounts, are at the highest risk. While taking some precautions, such as only using credit cards in websites with hypertext transfer protocol secure (https) certificates, such a significant risk may warrant additional protection.

2. Costs Are High

Citizens end up paying around $1.48 billion each year because of fraud. On an individual level, around two-thirds experience direct losses at an average of $850 overall and $690 out-of-pocket.

Insurance agencies provide identity theft coverage at affordable rates, helping prevent increased expenses in the long term.

3. The Issue Is Time-Consuming

Identity theft can also be inconvenient, as problems can take six months or longer to resolve.

With identity theft protection, your insurance agency helps you avoid credit report discrepancies that could impact your eligibility for new credit cards and loans. Any effects on your credit score are resolved with their assistance, helping you maintain low insurance rates.

If you want to add identity theft coverage to any insurance policy, reach out to Daniel Oliver Insurance Agency in Edina, MN. This registered Farmers Insurance agent has helped people throughout the state secure protection for all aspects of their lives since 1983. Whether you need home, business, or auto insurance, Daniel and his team are committed to providing a personalized experience. Request a quote online or by calling (952) 925-4454.