Identity Fraud on the Rise: State Farm Warns Consumers this Holiday Season

As the holiday shopping season reaches its peak, State Farm reminds consumers of the growing threat of identity fraud. According to the Federal Bureau of Investigation, identity fraud claims an estimated 10 million victims each year, making it one of the fastest-growing crimes in the United States and Canada. To combat this issue, State Farm offers identity restoration coverage, which provides case management support and reimburses up to $25,000 in monetary expenses associated with the restoration of an identity, all for a mere $25 a year.

Key Takeaways:

• Identity fraud claims an estimated 10 million victims each year, according to the Federal Bureau of Investigation.
• The real cost of identity fraud goes beyond financial losses, with victims also suffering from the time and stress of regaining control of their identity and restoring their credit history.
• State Farm offers identity restoration coverage to its policyholders, providing case management support and reimbursing up to $25,000 in monetary expenses associated with identity restoration.
• The coverage is available for $25 a year, providing an added layer of protection against the growing threat of identity fraud.
• State Farm's 17,000 agents and 68,000 employees serve more than 76 million auto, fire, life, and health policies in the United States and Canada.
• The company has a strong commitment to protecting consumers' personal information, ranking No. 31 on the Fortune 500 list of largest companies.

Statistics:

• 10 million: Estimated number of identity fraud victims each year (Federal Bureau of Investigation).
• 17,000: Number of State Farm agents serving consumers in the United States and Canada.
• 68,000: Number of State Farm employees serving consumers in the United States and Canada.
• 76 million: Number of auto, fire, life, and health policies served by State Farm in the United States and Canada.
• 1.7 million: Number of bank accounts served by State Farm in the United States and Canada.
• $25: Annual cost of State Farm's identity restoration coverage.
• $25,000: Maximum reimbursement for monetary expenses associated with identity restoration (State Farm).

Sources:

• [Federal Bureau of Investigation]
• [State Farm]
• [Marketwire]