No one wants to be a victim of identity theft. Luckily, there are measures you can take to avoid being taken advantage of. Fraud protection companies exist with the goal of helping cautious people prepare in the event that the worst happens. Still, you want to make sure that you are getting the best results for your money. So, where do you begin? What qualities should you look for in an identity theft prevention program?
How much do Identity Theft Protection Programs cost?
Credit monitoring and fraud protection services vary greatly in price (and in their offerings). You can find credit monitoring for free or you may expect to pay up to $300 for a fraud protection service. The big differences between the costs? Depending on the provider and level of coverage, you may be entitled to active credit monitoring and complete cost reimbursement if your identity were stolen.
What do they do, exactly?
Identity theft protection programs can't prevent fraud from occurring. There is really no way to fight it. However, that doesn’t mean that they aren’t helpful. Look at it this way: having car insurance doesn’t decrease the chance of you getting into an automobile accident, but it does make the situation easier to deal with if you should find yourself the victim. Fraud protection companies work the same way.
Many of the services provided by identity theft prevention programs are services that you could do yourself, but it is often best left to the professionals. You could monitor your own credit, but you are likely to miss subtle changes that might signal identity theft. These people do it for a living, so you can trust that you are in good hands. Many victims of identity theft don’t even know that there is an issue until is is much too late to do anything about it. You don’t want to let yourself become one of those people.
Should I Invest in Fraud Protection?
At the end of the day, you have to do what is right for you and your family. It is often better to be safe than sorry. If you do opt for an identity theft protection program, make sure you choose a trustworthy company.