What is the maximum expense amount and deductible under the identity fraud expense coverage?

What is the maximum expense amount and deductible under the identity fraud expense coverage?

• A. $10,000 with $100 deductible
• B. $15,000 with $250 deductible
• C. $20,000 with $500 deductible
• D. $5,000 with $0 deductible

Answer: (B)

Identity fraud expense coverage reimburses documented costs you incur because of identity theft up to a fixed limit, with a deductible you pay first. In this plan, the coverage limit is $15,000 and the deductible is $250. That means you’re responsible for the first $250 of eligible expenses, and the insurer covers the remaining amount up to the $15,000 limit. For example, if you have $2,000 in eligible expenses, you’d pay $250 and the insurer would pay $1,750. If you have $15,000 in expenses, the insurer would pay $14,750 after the deductible. If expenses exceed the limit, only up to $15,000 is covered.

Identity fraud expense coverage reimburses documented costs you incur because of identity theft up to a fixed limit, with a deductible you pay first. In this plan, the coverage limit is $15,000 and the deductible is $250. That means you’re responsible for the first $250 of eligible expenses, and the insurer covers the remaining amount up to the $15,000 limit. For example, if you have $2,000 in eligible expenses, you’d pay $250 and the insurer would pay $1,750. If you have $15,000 in expenses, the insurer would pay $14,750 after the deductible. If expenses exceed the limit, only up to $15,000 is covered.