An overview of the identity theft protection
Obtaining someone else’s identifying information and using the same for a criminal purpose is known as identity theft. Often the purpose of an identity theft is to commit financial frauds like obtaining credits or loans in the name of the individual whose identity has been stolen. Stolen identity information may also be used for other activities like obtaining identity cards or for purposes of employed by someone who is not legally authorized to work in the country.

Identity theft protection agencies pledge to act as guardians of your identity and personal information for a monthly fee or an annual fee. Below is some information to help you understand the working of identity theft protection service providers.

Why should you buy identity theft protection?
Although a year of free service by a retailer or your employer might be a great deal, it is very important to ensure you are getting the best protection for your identity. Below are some reasons why you should opt for identity theft protection:

• Alerts immediately notifying you when something happens – The quicker you can catch an identity thief in the act, the less damage he or she can do to you. Several individuals do not realize that their identity has been stolen for months and sometimes even years. This is where a good identity theft protection helps. You can opt for a text message, email notification, and a phone call to update you if any suspicious activity is detected, for e.g. you will get an alert if someone is using your information to open a new utility account or get a new credit card using your identity.
• Credit reporting from three credit bureaus – While most identity theft protection services offer a type of credit report monitoring, they all aren’t created equal. Several services will only offer to monitor from just one bureau. However, this is not enough. As not all creditors report to all the three bureaus, you can miss suspicious activities indicating an identity theft. Many top-rated identity theft service providers offer triple-bureau credit monitoring and reports. This is the best service one can opt for.
• Help in the case of identity theft – The identity theft protection service protects you from criminals before they arrive, and it will also protect you after sudden problems. The service provider sends the customers a real-time alert if it detects that your personal information is used by the unauthorized user. Identity theft protection offers medical record help, which means that you can get help when you have fallen victim to medical identity theft. Many services offer 24/7 assistance to protect you from identity theft and also help you at any time if you become a victim of theft. They also provide insurance for the theft.
• The option to protect your family members – Protecting your family from identity theft is also a priority for most individuals. Often, the year of free service by the breached companies only covers the individual who was affected; however, your family members may also be at risk, especially, children. Several identity theft service providers offer a family plan, which is cost-effective.

What are the tips for identity theft protection?
The following tips can help you to protect yourself from identity theft:

• Protect your Social Security number
• Beware of phishing emails
• Polish your password practices
• Be mysterious on social networking sites
• Shield your computer and smartphone
• Click on links with caution
• Check your account and various important statements
• Stop using pre-approved credit offers
• Check your credit reports regularly
• Query the businesses or agencies that ask for your personal information

Which are the top identity theft protection service providers?
Finding a good and reputable identity theft protection plan is important to protect yourself and your family from identity frauds. Below is a list of some of the best identity theft protection service providers:

• IdentityForce – This service provider offers convenient alerts, excellent customer support, and a large selection of monitoring services. The only drawback of this service providers is that it does not provide a family plan online, and you need to call them for the same.
• IDShield – IDSheild offers quite a lot of coverage at affordable rates. It is an excellent service provider for those looking to protect their entire family. Its drawbacks are that it has limited credit monitoring services and no reimbursement for stolen funds.
• Experian – Experian offers identity theft protection with thorough credit monitoring. It has a one-month free trial and affordable family coverage. However, it does have negative reviews from customers.

What is identity theft insurance?

• An identity theft insurance is designed to cover some of costs associated with an identity theft.
• The victim of identity theft gets a reimbursement of the money spent on his or her credit report and reclaiming the financial identity.
• These costs range from legal help to phone bills.
• Often, the identity theft insurance policies provide specialists who can aid the victim in the identity restoration process.