Identity Theft Insurance Coverage

With identity theft on the rise, Identity Theft Insurance Coverage is becoming increasing more important for people to have. Identity Theft Insurance Coverage, offered by companies such as Lifelock, offer services to people such as working with the credit bureaus to place fraud alerts if an event has occurred which warrants such an alert. Other Identity Theft Insurance Coverage services by companies such as Lifelock also include removing individuals from lists of credit card offers, providing annual credit reports, and notifying credit card companies of stolen credit cards.

Lifelock offers one other important service by providing a $1 million service guarantee, by which they will spend up to $1 million on lawyers, investigators, etc. on an insured's behalf to restore their credit from negative results of having their identity stolen.

Lifelock is the leader in Identity Theft Protection Insurance, with plans for $10 per month.

We learned this week about the largest case of identity theft in U.S. history with the theft of 130 million credit and debit card accounts by a hacker. Now, more than ever, identity theft insurance coverage is a necessity. We have auto insurance, homeowners insurance, life insurance, mortgage insurance, health insurance but don't think about coverage to protect our credit and identities.

Companies such as LifeLock® offer coverage to protect an individual's identity. These plans only cost $10 per month. LifeLock® protects identities by placing fraud alerts on behalf of their customers and contacting credit card companies on behalf of a customer if their cards are stolen. The most important thing the will do is to spend up to $1 million to restore an individual's credit. That is an amount most individuals can't afford to spend on their own to restore their credit.

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People need identity theft insurance coverage just like they need auto insurance, homeowners insurance, life insurance, and health insurance. A few years ago, people for the most part could take steps to protect their identities and their credit by merely being careful who they submitted their personal information to, by opting out of credit card offers and solicitations, by shredding personal data, etc. Today, these steps are not enough.

In today's society, hackers and thieves can easily obtain people's identification. For instance, this past week major news organizations revealed that 130 million credit and debit card accounts were compromised by a hacker. Luckily, the hacker was caught, but how many individuals personal credit did he affect and how long will and how costly will it be to repair their credit? Furthermore, what if he hadn't been caught? He could still be using their identities today to enrich himself at his victims' demise.

Other notable cases involve computers that are stolen from universities and other organizations that have thousands of personal identification data on them. These cases seem to happen about every week. But every day, thousands of people have their identities compromised in much simpler ways, such as stolen checks and credit cards, just to name one method. Although in these instances steps can be taken quickly to thwart the thieves and place a hold on the accounts, in the meantime the thieves can make off with a lot of money while severely inconveniencing their victims.

For these reasons, it is absolutely essential today to obtain identity theft insurance coverage from companies such as LifeLock® to have experts help protect and, if necessary, repair our credit.

This week, major news organizations revealed that a hacker compromised 130 million credit and debit cards. Until now, we have learned about "smaller" cases in which companies are broken into and computers are stolen which contain the person data of thousands of their clients.

These cases will continue to occur and we don't know if the next time somebody hacks into and obtains the credit card information of millions of customers that the hacker will be caught immediately. If they have some time to use the information, millions of people could be affected. Thus, this growing identity theft problem is affecting all of us and we need to take precautions.

We can't do enough today on our own to protect our identities. We need the assistance of professionals such as LifeLock®. LifeLock® offers plans for $10 per month by which they can protect and, if necessary, repair our credit by spending up to $1 million on our behalf.

Press Release: Hacker Steals 130 Million Credit and Debit Card Accounts