Identity theft add-ons cost $25–$60 a year and mostly buy you something more valuable than money: a case manager who does the phone calls.
What the coverage actually includes
- Expense reimbursement: notarization, mailing, lost wages for time spent resolving, legal fees — typically $25,000–$50,000 of expense coverage.
- Case management: a specialist who works the credit bureaus, banks and FTC paperwork — the real product.
- What it doesn’t do: directly reimburse stolen funds — bank fraud protections handle that separately.
Who should add it
If you already pay for a standalone ID-protection service, the add-on duplicates it. If not, and you’d rather outsource the resolution nightmare than DIY it, the add-on is reasonable value — ID theft resolution averages 30+ hours of admin work.
Frequently Asked Questions
Does renters insurance cover identity theft?
Only via the add-on (or a separate service). The endorsement covers resolution expenses and case management, not direct stolen-fund reimbursement.
How much does identity theft coverage cost?
$25–$60 annually as a renters add-on, typically with $25,000–$50,000 of expense coverage. Compare against standalone services before doubling up.
What does identity theft insurance actually pay for?
Resolution costs: notaries, certified mail, lost wages from handling the case, legal fees — plus a professional case manager. The banks repay fraudulent charges under their own rules.
Is the add-on better than a standalone ID service?
Functionally similar at lower cost; standalone services add credit monitoring. If you already monitor credit, the add-on is the economical choice.