Identity Theft and Identity Theft Insurance
Unless you actively protect yourself, it will happen to you. There is a ton of advice out there on basic things to do, online and offline. For the online world, use a secure password manager like Roboform, augmented by a secure storage device if possible. For the offline world, shred everything with more than just your name and address on it. Use a good cross-cut or diamond-cut shredder.
Don't waste your money on Identity Theft Insurance. It's generally overpriced, and it's too little too late. I consider it a SCAM. However, I can strongly recommend a PROACTIVE Identity theft PROTECTION service called LifeLock -- I bought it for myself and my family. Oh, and by the way, it comes with US$1,000,000 insurance coverage in the event someone manages to bypass the safeguards they put in place for you. Compare this with the identity theft insurance you can buy from traditional insurance companies and other specialized companies, and it's a no-brainer. And, if you use this link you get 10% off.
Think of the LifeLock service as "outsourcing" a whole bunch of things that you could pretty much do yourself. Yes, you could probably do all of the same things, but some of them need to be done repeatedly in order to work. I don't know about you, but I have better things to do. The price is reasonable, and remember it comes with US$1,000,000 in identity theft insurance at no extra charge. Obviously, they believe what they do really works, and they are willing to put their money on the line. I like that. Also, they keep you informed of what they are doing and why.
And don't forget to BACK UP YOUR STUFF!!! A good online backup is a critical part of any records program, and that goes for identity related documents too. Keep scans of your important documents backed up somewhere safe. Worries about size of your dataset are a thing of the past these days, with new low cost, unlimited storage backup services such as Mozy Unlimited Backup - $4.95/Month
Scam Buster
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Reader Comments (2)
You should do a little more research in regards to Identity theft protection. As an example, what would lifelock do if you had your medical identity stolen and the thief used some of your $1,000,000 major medical insurance limit? And, if the thief had diabetes which now becomes a part of your permanent Medical information on the bureau? What would lifelock do? NOTHING! Please become more aware of the 5 types of identity thefts for those who depend on your advice.
You have an excellent point. Most attention and fear is focused on financial identity theft. I'll make sure to cover this topic in a future blog entry. Thanks for the feedback!