Follow these smart toy tips to mitigate risk of identity theft
ERIE, Pa. , Nov. 16, 2023 /PRNewswire/ -- As the holiday season approaches and children build their gift lists, smart toys may be at the top of the list. By 2027, the smart toy market is expected to exceed $24 billion but internet-connected toys, which typically have a built-in microphone and speaker, can potentially expose children and others in their household to data or identity theft. Erie Insurance is offering tips on which toy features to watch for and monitor to ensure families have a safe and happy holiday.
According to the Federal Trade Commission, smart toys run the risk of being accessed by criminals, just like any smart device. Erie Insurance, which offers coverage to help people recover from identity theft, is bringing attention to the risks and what parents should consider before purchasing a smart toy this year.
What should I know about the toy?
What features should I understand?
Smart toys are educational and fun for children, but researching smart toys ahead of time and choosing wisely can give parents added peace of mind.
Parents can also add Identity Theft Recovery coverage to their homeowners or renters policy as an additional precaution.
"With Erie Insurance's Identity Theft Recovery coverage, a customer would have access to their very own case manager who can help them take care of the many time-consuming tasks that have to be done to restore a person's credit following identity theft, such as contacting credit bureaus and writing letters to governmental bodies like the Social Security Administration," said Michelle Tennant, vice president of Product Management, Erie Insurance. "The coverage also pays some of the costs associated with identity theft, which may include not only lost wages but also filing fees for reapplying for loans or other types of credit, certain legal fees and more."
Tennant recommends parents talk with their insurance agent to find out more about the specific benefits of Erie Insurance's Identity Theft Recovery coverage, which is included with any of the ErieSecure® homeowners bundles.
About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 12th largest homeowners insurer, 12th largest automobile insurer and 13th largest commercial lines insurer in the United States based on direct premiums written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 19th largest property/casualty insurer in the United States based on total lines net premium written. Rated A+ (Superior) by A.M. Best, ERIE has more than 6 million policies in force and operates in 12 states and the District of Columbia.
SOURCE Erie Insurance Group