Identity Theft Insurance Cover

Identity Theft Insurance - Overview

• 

  High Coverage Limit

  Get coverage up to Rs. 1,50,000 for just Rs. 299 per annum

• 

  Reimbursement for financial expenses incurred

  In case of identity theft, you can insure yourself against all the legal and financial expenses incurred, when resolving your identity theft. You can cover these expenses:
  
          • Legal expenses
          • Lost wages
          • Obligation to pay
          • Miscellaneous expenses
  

• 

  Multiple payment options

  You can pay your premiums easily via multiple options, such as online account transfers, UPI, Mobile Wallets, Credit or Debit.

• What is Covered in Identity Theft Cover?

   

  With an Identity Theft Cover by Bajaj Finserv, you can get insured for financial losses incurred due to identity theft. Here’s a detailed lowdown on the different expenses covered:

• 

  Legal expenses

  Get reimbursement of attorney and court fees incurred by you for:
  
  • Defending any suit brought against you by a creditor or collection agency or someone acting on their behalf, as a result of the identity theft
  • Removing any civil or criminal judgment wrongfully entered against you as a result of the identity theft
  • Challenging the accuracy or completeness of any information in your consumer credit report, only if this information is inaccurate and falsely provided to the credit agency or financial institution as a result of identity theft.
  

• 

  Lost wages

  Reimbursement for time taken from work, to correct financial records that have been altered due to identity theft. Get payment for whole or partially unpaid workdays, but make sure you take these leaves within 12 months of making a claim.

• 

  Obligation to pay

  Get coverage for actual losses from unauthorised transactions, if any credit or bank accounts were opened in your name without authorization. We will pay for your legal obligation to pay a creditor, when the account was created as a part of your identity theft.

• 

  Miscellaneous expense

  Get reimbursement for the following expenses:
  
  • The cost of re-filing applications for credit accounts or banking accounts that are rejected solely because the lender received incorrect information due to identity theft
  • The cost of notarizing documents related to your identity theft, long distance telephone calls, and certified mail, reasonably incurred because of your efforts to report an identity theft or to correct your financial and credit records that have been altered because of your identity theft
  • The cost of contesting the accuracy or completeness of any information contained in your credit history because of your identity theft
  • The cost of a maximum of 4 (four) credit reports from an entity approved by us. The credit reports shall be requested when you make a claim.
  

• What is Not Covered in Identity Theft Insurance Policy?

   

  Here are the exceptions to the policy, which are not covered under Identity Theft Cover by Bajaj Finserv:

• 

  Losses due to physical conditions

  Any physical injury, sickness, disease, disability, shock, mental anguish and mental injury including required care, loss of services or death

• 

  Credit reports requested beforehand

  Requesting credit reports before the discovery of your identity theft

• 

  Time taken off work

  Taking time from self-employment or workdays that will be paid by your employer in order to correct your financial records that have been altered due to identity theft.

• 

  Losses due to other conditions

  Losses due to war, invasion, act of foreign enemy, hostilities or warlike operations (whether war has been declared or not), civil war, rebellion, revolution, insurrection, civil commotion, uprising, military or usurped power, martial law, riot or the act of any lawfully constituted authority

• For the full list of Identity theft insurance policy exclusions, please download the policy brochure here.

Identity Theft Cover: Terms and Conditions