Identity Theft Insurance

[waijai]

What is everyone's thoughts on this? I previously had used a product called IdentityShield that was being offered with prepaid legal.

I know lifelock is heavily marketed, but it's hard to find one that is the best 'bang for the buck'.

[waijai]

Identity Theft Protection Services Review 2009 - TopTenREVIEWS

[elfen lied]

What you need to do is tell the credit reporting agencies to flag your account. Here's a page with all the info necessary. I can't tell you that you don't need the insurance, but only 5% of people using credit get caught in an identity theft situation and many times it is simply a stolen credit card. While most people would not think of stolen credit cards as identity theft, technically it is, and that's what makes up the bulk of 'stolen identities'. Without including credit card theft, the chances of having your identify stolen go down to less than 1%. And even those chances are shrinking rapidly, as credit checking methods are improving.

[Rainbow Traveller]

Identity theft has become a national concern, with 10 million victims in the US, according to some estimates. The market is being flooded with identity theft insurance, credit monitoring plans, and other services, and our mailboxes are being flooded with offers to buy these services and dire warnings of what could happen if we don't.Identity theft protection plans are a new type of "insurance" that claims to protect you from the costs associated with identity theft and the time-consuming process of cleaning up the mess left behind when somebody steals your identity.

[BuckyBadger]

Why on earth would anyone pay someone to tell you when fraud has ALREADY occurred when you can freeze your credit for way less money and actually eliminate the possibility of the fraud happening in the first place?

Freeze your credit for between zero and thirty dollars and you'll never have to worry about it again. Why would you pay someone a monthly fee to simply MONITOR something that you could ELIMINATE for free??