Protection

The Companies That Best Protect Against Identity Theft

Checking your credit report can protect you against identity theft, but the process can be time consuming. You have to request a copy of your report and review it for errors or questionable items. If you find something, you then have to start working through the process of having the error corrected or the fraudulent accounts removed. Several companies are now offering insurance to protect you against identity theft, but choosing the right one can seem overwhelming. If you are considering investing in this valuable protection, here is the information you will want to have.

LifeLock

The faster identity theft is caught, the easier it is to stop. That is why LifeLock offers daily monitoring of all three credit reporting agencies with their Ultimate plan. You will have access to your TransUnion credit score 24 hours a day, seven days a week. Identity theft won’t always start with the credit report; it might start with a new checking or savings account. LifeLock Ultimate even checks for new checking and savings account applications to help protect you.

The company actively looks for your name, address or Social Security number to appear on any application, whether it is for credit, wireless services or even utilities. The proactive monitoring means that your identity will not be stolen to begin with, so you won’t have to deal with the hassle of straightening out the mess afterward.

The company also offers insurance, so you will have the funds you need to deal with identity theft if it should happen. It is estimated that the average person spends more than 500 hours and $3,000 dollars trying to deal with the aftermath of identity theft, so the insurance is an important aspect.

Identity Guard

With unlimited access to your credit score and public records, Identity Guard offers something a little different. They monitor your credit regularly and look for any suspicious activity with credit requests, bank accounts or your Social Security number.

Modern identity thieves are extremely smart and very tricky. Although they are willing to dig through garbage for personal information, they do not have to. They can use your own computer to get what they need with phishing software, malware, keylogging and spyware. Identity Guard also protects you and your identity by protecting your computer.

A personal response team is prepared to help you deal with identity theft should you still be a victim, and they offer a million-dollar loss reimbursement policy to help you deal with the aftermath. However, with the help of their personal identity dashboard, you probably will not fall victim to this pervasive crime.

PrivacyGuard

In addition to offering insurance for the expense of identity theft, PrivacyGuard provides you with your credit reports and score from all three agencies. They monitor credit bureaus daily for activity under your name and Social Security number. A free hotline is available if you have any questions or concerns.

Companies You Already Know

You don’t have to get insurance through dedicated companies like LifeLock and Identity Guard. Another option is to accept credit monitoring insurance offered through your homeowner’s insurance or credit card company. Before signing with any company, look for the following items:

  • Guarantee to pay for professional assistance that is required to correct the problems caused by identity theft.
  • Lost wages are a common complaint among people who have gone through this problem. Be sure the company you choose will cover them.
  • Background checks on identity theft protection companies are important to ensure someone working for the company isn’t also a perpetrator.
  • Reputation matters: try to choose a company that is known for maintaining confidentiality and providing quality services.
  • Kids can also fall victim to identity theft. Find out if the company will help you protect your children’s report as well.

You can monitor your own credit and protect yourself from identity theft and fraud. The question is not whether you can do it, but rather if you have the time to do it. Things like pulling a credit report are very easy to forget, making it all too simple for identity thieves to take advantage of you. Most insurance plans run between $10 and $30 a month, making them very affordable for the peace of mind they will provide you. Before choosing any company, be sure to check their reputation and make sure they perform background checks on all employees. A little research can help you find the best company for your protection.