Thursday, June 11, 2015

Identity theft insurance; more on protecting elderly parents credit, and airline cards

Thursday, June 4, 2015 I did write a piece on homeowner’s and car insurance and social media on my Issue blog.
It’s well to add here that in many states, most homeowner’s and renter’s policies offer optional coverage for Identity Theft and fraud resulting from it. 
It might not work in estate situations where the property inherited belongs to a trust rather than to the beneficiary (typically, only events connected directed to the property are covered). It would have been intended to cover the original owner before her passing from identity theft.
Besides checking credit reports, it goes without saying that one of the best defenses to identity theft is simply frequently checking all financial accounts online.  This is probably more trouble to do for an elder relative in care than for one’s own affairs; the parent is likely to have accounts that one doesn’t know about.

Here’s another problem:  airlines seem to want to give consumers Visa or Mastercards when they sign up for frequent flier miles.  It seems like you get a new card when you book a reservation whether you applied or not.  Maybe the application is embedded in the website somehow. That also means another credit inquiry, possibly lowering a credit score.  

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