Sample Policy

PERSONAL FINANCIAL PROTECTION POLICY

 

SUMMARY OF BENEFITS*

COVERAGE A - Identity Fraud - Expense Reimbursement

To reimburse the Insured for loss incurred by the Insured as the direct result of an Identity Fraud discovered during the Policy Period.


As used within this Coverage A, the term "loss" shall solely mean Expenses incurred by the Insured.


COVERAGE B - Identity Fraud - Direct Loss Protection

To pay for direct loss which the Insured shall sustain arising directly from fraudulent transaction(s) with any Access Device issued to the Insured.  

COVERAGE C - Safe Deposit Box Contents Protection

(a) Securities in a Safe Deposit Box: To pay for loss of Securities by the actual damage, destruction, disappearance or wrongful abstraction thereof occurring while the Securities are within a Safe Deposit Box, or while the Securities are on the Premises of the Depository Institution and being transported to or from the Safe Deposit Box; or


(b) Property in a Safe Deposit Box: To pay for loss of Property by Burglary or attempt thereat occurring while the Property is within the Safe Deposit Box, or by Robbery or attempt thereat while the Property is on the Premises of the Depository Institution and being transported to or from the Safe Deposit Box.

(c) Securities While Temporarily Elsewhere:

(1) To pay for loss of Securities by actual damage, destruction, disappearance or Robbery thereof occurring while the Securities are in the possession of the Insured and in transit to the Depository Institution in the course of a first time deposit; or

(2) To pay for the loss of Securities by actual damage, destruction, disappearance or wrongful abstraction thereof provided such Securities are usually kept by the Insured within the Safe Deposit Box but are Temporarily Elsewhere.

(d) Property While Temporarily Elsewhere:

(1) To pay for loss of Property by Robbery thereof occurring while the Property is in the possession of the Insured or its authorized representative and in transit to the Depository Institution in the course of a first time deposit; or

(2) To pay for loss of Property by Robbery or attempt thereat provided such Property is usually kept within the Safe Deposit Box but is Temporarily Elsewhere; or

(3) To pay for loss of Property by Burglary or attempt thereat occurring while the Property is:

(i) within the personal residence of the Named Insured, or

(ii) within a safe, safe deposit box, vault, or other similar receptacle locked by either a key or combination lock on the premises of any hotel, motel or other place of public lodging at which the Insured is a registered guest, or

(iii) within a safe, safe deposit box, vault or other similar receptacle locked by either a key or combination lock on the premises of any hospital or health care facility in which the Insured is an admitted patient;
provided such Property is usually kept in the Safe Deposit Box but is Temporarily Elsewhere.

DEFINITIONS

As used in this Policy:

(a) "Access Device" means a card (including credit, debit and ATM cards), code, PIN, password, personal check or other similar means of access to the Insured's account at an Access Device Provider that may be used by the Insured to gain access to said account for the purpose of withdrawing or transferring funds, making purchases, or making long distance or cellular telephone calls.

(b) "Access Device Provider" means a financial institution, merchant, or telephone service provider that has issued an Access Device to the Insured for personal use.

(c) "Burglary" means the taking of Securities or Property:

(1) by a person unlawfully entering a locked Safe Deposit Box on the Premises; or

(2) by a person unlawfully entering or leaving:

(i) the personal residence of the Box Holder, or

(ii) into a safe deposit box or vault or other similar receptacle locked by either a key or combination lock on the premises of any hotel, motel or other place of public lodging where the Insured is a registered guest, or

(iii) into a safe, safe deposit box or vault on the premises of any hospital or other health care facility where the Insured is an admitted patient while the Securities or Property are Temporarily Elsewhere provided such entry is evidenced by marks of forcible entry on the exterior of the places of safekeeping.
(d) "Depository Institution" means any location, located within the United States, of any bank or thrift from which the Insured rents or leases a safe deposit box.

(e) "Expenses" means:
(1) Costs for notarizing fraud affidavits or similar documents for financial institutions or similar credit grantors, any Access Device Provider or credit agencies that have required that such affidavits be notarized.

(2) Costs for certified mail to law enforcement agencies, credit agencies, financial institutions or similar credit grantors or any Access Device Provider.

(3) Lost wages as a result of time taken off from work to meet with, or talk to, law enforcement agencies, credit agencies and/or legal counsel, to complete fraud affidavits, or due to wrongful incarceration arising solely from someone having committed a crime in the Insured's name up to a maximum payment of $500 per week for a maximum period of four weeks.  Lost wages shall not apply in the case of wrongful incarceration absent all charges being dropped or an acquittal.

(4) Loan application fees for re-applying for a loan or loans when the original application is rejected solely because the lender received incorrect credit information.

(5) Reasonable attorney fees incurred, with the Company's prior consent, for:
(i) defense of lawsuits brought against the Insured by merchants or their collection agencies,

(ii) the removal of any criminal or civil judgements wrongly entered against an Insured, and

(iii) challenging the accuracy or completeness of any information in a consumer credit report.
(6) Charges incurred for long distance telephone calls to merchants, law enforcement agencies, financial institutions or similar credit grantors, credit agencies or any Access Device Provider to report or discuss an actual Identity Fraud.
(f) "Identity Fraud" means the act of knowingly transferring or using, without lawful authority, a means of identification of an Insured with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of Federal law or a felony under any applicable state or local law.

(g) "Insured" means the natural person named in Item 1 of the Declarations as the Named Insured, and the spouse and children of the Named Insured permanently residing at the address of the Named Insured shown in the Declarations.

(h) "Money" means a medium of exchange in current use, having a face value and authorized or adopted by a domestic or foreign government as part of its currency.

(i) "Premises" means the interior of the portion of any building at any location that is occupied by the Depository Institution for the purpose of conducting a safe depository.

(j) "Property" means valuable papers, valuable documents, jewelry, silverware and other personal property including the philatelic value of stamps and the numismatic value of coins not in circulation, but does not include Money and Securities.

(k) "Robbery" means the taking of Securities or Property:
(1) by violence or threat thereof inflicted upon a person having the care or custody of or rightful access to the Insured's Securities or Property; or

(2) by any other overt felonious act committed in the presence of a person having the care or custody of or rightful access to the Insured's Securities or Property and of which such person was actually cognizant.
(l) "Safe Deposit Box" means the safe deposit box rented or leased by the Insured from the Depository Institution provided such safe deposit box is located within a vault on the Premises of the Depository Institution.

(m) "Securities" means a share, participation or other interest in property of or an enterprise of the issuer or an obligation of the issuer, which is:
(1) represented by an instrument issued in bearer or registered form;

(2) of a type commonly dealt upon in a securities exchange or markets or commonly recognized in any area in which it is issued or dealt in as a medium for investment; and

(3) either one of a class or series, or by its terms divisible into a class or series of shares, participations, interests, or obligations.
"Securities" does not include Money, manuscripts, books of accounts or records in any form.
(n) "Temporarily Elsewhere" means the period of time, not to exceed thirty (30) consecutive days commencing on the date of entry to the Safe Deposit Box during which Securities or Property are off the Premises of the Depository Institution.

 

*Coverage is provided by Travelers Casualty and Surety Company of America and its property casualty affiliates, Hartford, CT 06183.

 

 


Your Personal
Identity Theft Policy

  • Any money stolen from you up to $30,000 for the entire family***
  • Reimbursement for out of pocket expenses up to $30,000 for the entire family***
  • No deductible - $0
  • Recover lost wages - up to $500/week for 4 weeks
  • Pre-approved attorney fees covered
  • Loan re-application fees covered
  • Toll-free help line
  • Plans starting at $49 per year
Purchase Your Policy

***spouse and children residing at home