Identity Recovery and Fraud Reimbursement

When you are the victim of identity theft and/or credit card fraud, the process to recover your credit and/or identity is usually lengthy, frustrating, very expensive and confusing.

What is Identity Crime?

Actually, identity theft and credit card fraud are not the same thing. You become the victim when the thieves use your name, address, credit report and bank accounts to fraudulently open accounts or secure loans or commit crimes or even create a non-existent person at a different address while you were unaware. Whereas, technically, if your loss is limited to someone obtaining your credit card account information and making unauthorized purchases, you are a victim of credit card fraud and not identity theft.

What Happens if I Become a Victim?

You will likely find yourself initially responsible for the financial/criminal damage that has been done, and financial institutions and merchants will hold you responsible to prove that identity theft and/or credit card fraud occurred. Unless you have educated yourself in advance about how to recover and also have the time and resources, you might be overwhelmed by the process of recovering your identity and financial reputation.

What is Identity Recovery and Fraud Reimbursement Coverage?

This type of protection is available from some insurance carriers, often being added to a homeowners insurance policy. Some carriers may offer it as an addition to a renters, condo or mobile home policy or even an auto insurance policy.  Business owners may obtain this coverage for their business (i.e., credit cards, federal ID#) as a rider to their Business Owners Policy.

Insurance coverage for identity theft and fraud of this kind typically includes case management services which gives you access to a specially trained fraud specialist who can assist and guide you through restoring and protecting your identity. These specialists know what to do and how to do it. Once assigned to your case, they can significantly reduce the time it takes before your identity and credit scores are again intact by making immediate contacts and filing reports with credit bureaus, financial institutions, government agencies and others. They will document the details and refer you to legal resources and finally coach you as needed. It will also typically cover such costs as:

  • Legal and notary fees
  • Filing fees for loans, credit reports, etc.
  • Some administrative and miscellaneous expenses
  • Limited lost wages

How Can I Get This Coverage?

It’s very easy, actually. Our representatives here at the Schaefer & Delauder Insurance agency in Germantown and Frederick, MD, can answer all your questions, help you explore your options and handle all the details needed to get your coverage started. So why not contact us to discuss your needs or request a quote today.


The scope of your insurance coverage and options depend entirely upon the policy and the insurance company providing it.  This website is not intended to advise, offer or bind coverage.  You should always discuss your insurance issues with professionals such as a licensed and qualified insurance agent like those at the Schaefer & Delauder Insurance agency before making any decisions or choosing a course of action.

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