Three hundred million hours. That’s how much time Americans spent trying to resolve problems created by identity theft in 2004. Allstate Insurance Company launched a new identity theft expenses coverage product, that the company says will help reduce the time ID theft victims spend trying to recover their lives.
   In a first of its kind move, Allstate has partnered with a professional firm that specializes in addressing and correcting the effects of identity theft. This gives Allstate customers with identity theft expenses coverage access to this specialized service.
   “The average identity theft victim spends 30 hours, spread over days and weeks, trying to correct problems caused by ID theft,” said Rhonda Woodard, Vice President of Product for Allstate. “That is time taken away from their families, from their work, from their already disrupted lives. Allstate wants to give our customers the option of handing this difficult task to professionals that can do the work for you, saving time and making a difficult situation more bearable.”
   Allstate’s new identity theft expenses coverage is available for Allstate homeowners and renters insurance policyholders for approximately $30 a year. It provides customers access to professional identity restoration assistance. If a customer chooses to do their own leg work, Allstate’s policy provides up to $25,000 in reimbursement coverage for expenses incurred to restore their identity, including attorney fees, loan reapplication fees, credit report fees, and lost wages.
   The new coverage is currently available in Georgia, Alabama, South Carolina, Texas, Illinois, Arizona, and New York, among other states.

Not an easy task…

   What does identity restoration assistance do for victims? According to Federal Trade Commission data, only 13 percent (13%) of identity theft victims contact credit agencies after learning their personal information has been misused. Many victims of identity theft don’t know where or how to start the recovery process. Here is some of what identity restoration professionals can do for victims of ID theft…
·         Help victims understand their rights.
·         File paperwork, including police reports.
·         Issue fraud alerts to credit reporting agencies, Social Security Administration, Federal Trade Commission, U.S. Post Office, credit card companies, and banks.
·         Work with credit agencies to correct and restore your credit.
·         Review credit histories for irregularities.
·         Trace Social Security numbers, notifying and working with the Department of Motor Vehicles, collection agencies, creditors and law enforcement personnel.