![]() ![]() Should you get identity theft protection?Įven though I’m a victim of identity theft, I don’t think everyone necessarily needs to pay for identity theft insurance. If you’re a victim of identity thieves or a data hack, you need to act quickly. Technology and the Internet Are you the victim of identity theft? Here’s what to do But you might already get it for free or at a discount through your employer, your credit card perks, your bank or credit union, your homeowner or renters insurance, or an organization such as AAA, Costco or AARP.Īlso, if you’ve been a victim in a data hack - which hundreds of millions of people have at this point - you might be eligible for some form of monitoring from that. News and World Report, identity theft protection will cost you about $10 to $40 a month, depending on the plan you select. How much does identity theft insurance cost?Īccording to a comparison from U.S. But being aware of it might be a good reminder to, say, change your password for something if it came up in a leak. At this point, everyone’s information is almost certainly somewhere on the dark web, and credit monitoring services can’t remove it all. Many also offer “dark web monitoring” that will tell you when your data comes up on one of the darker corners of the Internet. The exact details would depend on the plan you choose, but generally speaking, you’re eligible to be reimbursed for any money you lose in the process of having your identity stolen, both in lost funds and personal expenses, as well as related legal help - for instance, if you were wrongfully arrested for something your identity thief had done and needed a lawyer. Then my identity theft nightmare beganĪ stolen wallet precipitates a reporter’s years-long fight against identity thieves - and a system that doesn’t care and won’t help. Technology and the Internet My wallet was stolen at a bar. In my case, he said I would have been alerted “almost instantly” when the thieves opened checking and savings accounts at Bank of America and Wells Fargo. ![]() Identity theft protection services will monitor those as well as the three big players, and alert you whenever your personal financial information is used.ĭavid Putnam, the head of identity for LifeLock - which is the largest and probably the best-known service of this kind, though certainly not the only one - said the company has relationships with banks, state governments, and other institutions that allow it to monitor customers’ personal data beyond what free services offer. But there are more than 100 bureaus that track various types of financial activity, including checking accounts, utilities and payday loans. In my case, I started receiving emails when the thieves were attempting to open dozens of new store credit cards. Free credit monitoring services including Credit Karma and Credit Sesame will track the three major credit bureaus (Equifax, Experian and TransUnion) for you and alert you when new inquiries and lines of credit appear. Services such as LifeLock monitor your credit as well as the use of your personal information. Think of it more like AAA, said Eva Velasquez, the head of the Identity Theft Resource Center - it’s there to help you after the fact, but it doesn’t mean you’ll never blow a tire. Identity theft insurance does not entirely prevent your identity from being stolen. Times assistant editor Jessica Roy answered reader questions for a Reddit AMA (ask me anything) about identity theft on Dec. ![]()
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