Sensitive Financial Information:
Identity fraud encompasses a broad range of crimes wherein a perpetrator gains access to information about bank account numbers, passwords and other asset information and uses it to tap into other accounts.
Many institutions of higher learning use the social security number as a student ID. Since the social security number is often required as verification of identity or as an account number by itself, it is a gateway for identity fraud.
Social security numbers and other sensitive information may be stored on student laptop computers which increases the damage potential if the laptop is stolen. Additionally precautions need to be taken to keep that information secure; just because the computer is secure from theft doesn't necessarily mean the information on it is also safe. Log on IDs and passwords should not be shared with others and computers should be in the log off mode when unattended. Cell phones should always have a pin, password or biometric security measures to access.
Social Media websites and apps can be a treasure trove of information about a person. Talk to your children about the importance of not sharing any sensitive or personal details on any social media website or app.
Here are some other tips for protecting yourself and your student:
- Some homeowner policies can include identity fraud coverage. The coverage is inexpensive, especially relative to the extra protection and peace of mind it can provide. Your insurance agent can let you know if it is available.
- Care should be taken when using email because email is not secure. The way to think about email is like a postcard. You expect that people other than an addressee might see what is on a postcard and you should expect the same thing with email and use it accordingly.
- Always check to see if a website is secure before transacting business or sending information (the web address will begin with "https" instead of "http"; e.g., https://example.com).
- Don't leave sensitive information lying around. Employ a "clean desk" policy. Buy and use a shredder. They are inexpensive and can help avoid a lot of heartache in the future.
- Check your credit card and bank statements when they arrive; always scan for unauthorized transactions.
- Talk to your bank and see if you can put a max limit to credit card purchases by day and by transaction.
- Be aware of phishing scams in which an unsolicited email asks you to link to a site and provide personal information. These sites look just like legitimate sites. Be suspicious of unsolicited emails that suggest your account has been or might be suspended unless you provide social security numbers, IDs and passwords.
- If you are victimized don't wait to report the crime to authorities, your creditors and to your insurance provider. The three major credit bureaus should also be alerted. The Federal Trade Commission has a toll-free hotline for general information about identity theft and how to resolve related problems. The number operates Monday through Friday, 9 a.m. - 8 p.m. EST at 877-IDTHEFT. Victims can also file complaints online at https://www.identitytheft.gov/#/
Cars Away From Home:
Your student may have a car away at school. If the school is out of state and you are providing insurance coverage through your policy, you will probably need to amend your policy to make sure that you are extending the protection you think you are. Even if your student's vehicle is not garaged out of state it is a good idea to review policy coverage especially if they aren't taking their car to school. If the kids headed off but the car is staying ask for the 'distant student' discount on your auto insurance.
Personal Items on Campus:
Your homeowner policy may provide some coverage for personal property away from home if your son or daughter is in a dorm room but likely no coverage if there's an apartment being rented and they'll need a separate renter's policy.
Liability Protection:
The most important reason to call your agent and discuss junior's new adventure is to review liability protection. A lot can happen when our kids go out into the world for the first time and we want to make sure that your all policies will extend liability to the new living and possibly working situation or adapt or add coverage as needed.
For any insurance questions, call or contact Yennie & Jones Insurance Agency today.
