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April 2016

Identity Fraud Expense coverage for homeowners

Unfortunately, it’s not uncommon to be a victim of cybercrime or identity theft in today’s world. Fortunately for many policyholders of Phenix Mutual, we have partnered with IDT911™ and can offer additional options when it comes to identity management and identity theft resolution.

Free short-term relief provided by institutions experiencing a breach are beneficial, but can’t compare with the robust, long-term proactive identity management and identity-theft resolution service offered by Phenix Mutual. As the number of breach victims grows, consumers can feel empowered about proactively managing their identities with the help of these services.

Phenix Mutual is proud to be an IDT911 partner offering Identity Fraud Expense coverage for homeowners. 

For homeowners, this vital coverage is included at no additional charge on all Phenix Mutual homeowners policies. The Identity Fraud Expense Coverage endorsement (HO 7050) is provided for expenses incurred as a direct result of an identity theft occurrence first discovered during the policy period. After a $250 deductible, the endorsement provides coverage up to $15,000. Here’s what it covers:

  • Costs for notarizing affidavits attesting to fraud.
  • Costs for certified mail to law-enforcement agencies and financial institutions.
  • Lost income, up to a maximum of $200 per day or $5,000 total payment, resulting from time taken off of work to complete fraud affidavits, meet with law-enforcement agencies, credit agencies and legal counsel.
  • Re-application fees when the original loan application is rejected because the lender received incorrect credit information.
  • Reasonable attorney fees incurred to defend lawsuits and challenge the accuracy of any information in a credit report.
  • Long-distance telephone charges for calls to merchants, law-enforcement agencies or financial institutions to report or discuss an identity theft occurrence.

Phenix Mutual homeowners policyholders can visit phenixmutualidtheft.com for more information on Identity Restoration Services.