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  1. #1
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    Recommend identity-theft insurance?

    My daughter asks if identity theft insurance is worth it. I have always told her to use anti-malware software, monitor credit-reporting agencies and use good password protocols. And most insurance is for identity theft only, not just a compromised account. I know what a hassle it would be if your identity is stolen, but this seems to be a fairly rare occurrence compared to a hacked credit card.
    Any thoughts or recommendations?

  2. #2
    Silver Lounger RolandJS's Avatar
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    I'm testing IdentityGuard/Costco $10/month, haven't had an emergency to really road-test it. While no program, software, hardware, real-world offers 100% protection, what antiviri/antimalware, IG/C offer is the forcing one to ProAct: organize their credit cards/accounts, suggesting one organize & make copies of wallet contents, and so forth. If/when unauthorized credit/debit charge[s] happen, if/when ID is compromised, one is better organized upfront, receives bad news faster, ReAct better/faster to mitigate if not eliminate damage. Such things heighten one's aware of the need to be careful, be vigilant.
    Last edited by RolandJS; 2014-12-02 at 10:53.
    "Take care of thy backups and thy restores shall take care of thee." Ben Franklin revisited.
    http://collegecafe.fr.yuku.com/forum...-Technologies/

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    What do they do if you claim? Given the total mess your life will be in I'd want a lot of money / help.

    My personal identity theft insurance is in the form of a paper shredder and a refusal to give out personal information - I make stuff up and then record it in my password manager in case I need it later.

    cheers, Paul

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    Silver Lounger RolandJS's Avatar
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    PaulT, agreed! During the mess, lots of resources sure will come in handy.
    "Take care of thy backups and thy restores shall take care of thee." Ben Franklin revisited.
    http://collegecafe.fr.yuku.com/forum...-Technologies/

  6. #6
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    Hey Y'all,

    The best protection against Identity Theft IMHO is education, awareness and vigilance! e.g.,

    1. Limit the number of CC's you have (also good for your credit score), record all information on them, guard them zealously!
    2. Shred EVERYTHING with your name, address, telephone number, etc.
    3. Be Careful Be VERY Careful what you post on social media! (You know like your Mother's maiden name!, where you were born, what schools you attended!)
    4. Use a good Password Manager/Generator and NEVER reuse a password. Use the maximum length/complexity the site will allow.
    5. Have more than one Email address (one for FINANCIAL institutions ONLY!, one for Family ONLY, & one for everything else (maybe more than one) at a minimum.
    6. Have your computer protected by Software & Hardware Firewalls, several anti-Malware programs, and do offline scanning with a tool like Windows Defender Offline.
    7. Make sure your computer/phone/tablet has a good password/pin and never share it.
    8. Most important of all be careful where you CLICK! You can use a program like Web of Trust (free) to help but it's best to keep the nut behind the keyboard good and tight!

    I know there is some repetition of previous advice but I wanted to be as through as this old brain could be.
    HTH
    May the Forces of good computing be with you!

    RG

    PowerShell & VBA Rule!

    My Systems: Desktop Specs
    Laptop Specs

  7. #7
    WS Lounge VIP access-mdb's Avatar
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    With regard to item 5, Yahoo (and probably others) have aliases which you can use to give to each site that needs one. See https://help.yahoo.com/kb/creating-aliases-sln3240.html for info re Yahoo.

    Gmail is slightly different - https://support.google.com/mail/answer/12096?hl=en

    as is Outlook - http://windows.microsoft.com/en-GB/w...-alias-account

    Worth looking at as if you get spam on that address, the organisation you used it with has probably sold it.

  8. #8
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    Worth looking at as if you get spam on that address, the organisation you used it with has probably sold it.
    That's why I modify my first name when signing in to questionable sites. E.g., "BillyShampoo."

    Zig

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    I strongly recommend Zander.

    http://www.zanderins.com/idtheft/idtheft.aspx

    Someone got a hold of my personal data and was on course to ruin my financial life. Luckily, I had signed up with Zander prior to this, and they squashed the problem like a bug.

    I also recommend the services of reputation.com (personal) to monitor information about yourself online.
    http://www.reputation.com/personal

    And DeleteMe from Albine to remove personal information from public 'people search' sites.
    https://www.abine.com/deleteme/landing.php

    You can do what DeleteMe does by yourself for free (they even tell you how), but it is tedious.
    http://www.abine.com/optouts.php

    Some people mistakenly believe that if they are careful they will not be a victim of identity fraud. The sad truth of the matter is that there is no guaranteed way to prevent identity fraud and theft any more.

    Despite what some sources on the internet say, ID theft is not "hype". If you have a bank account, credit card, email address, home, or anything, your information is out there ready to be exploited. I used to be one of those people who were careful on the internet, didn't post any private info, used disposable email addresses, used fake names, limited credit card numbers, shredded everything, had different passwords for everything, used a strong password manager, had good firewalls and antivirus ... and you know what, they got me anyway. There is no preventing it. You have to be ready when it happens. I am no longer a scared and paranoid person pretending to hide behind false defenses. I now employ a strong offense. I am ready for the fight.

    Good luck!

    Jeff
    Last edited by Barker13; 2014-12-04 at 10:38.

  10. #10
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    is any insurance worth it

    if your house caught fire then yes
    if somebody dies somewhat
    if you get sick then absolutely

    there are many ways to have ID stolen without any pcs being involved

    weigh the pain cost and inconvenience of trying to fix the problem
    vs the cost of the insurance and what they will actually do




    Quote Originally Posted by malayguru View Post
    My daughter asks if identity theft insurance is worth it. I have always told her to use anti-malware software, monitor credit-reporting agencies and use good password protocols. And most insurance is for identity theft only, not just a compromised account. I know what a hassle it would be if your identity is stolen, but this seems to be a fairly rare occurrence compared to a hacked credit card.
    Any thoughts or recommendations?

  11. #11
    5 Star Lounger
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    i have subscribed to CR for 45 years

    they make SO MANY MISTAKES
    and have so many bad analyses that you need to be careful before you accept their advice


    Quote Originally Posted by jwitalka View Post

  12. #12
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    good ideas
    but insufficient

    there are so many other ways they gather the info needed to steal your ID


    Quote Originally Posted by Paul T View Post
    What do they do if you claim? Given the total mess your life will be in I'd want a lot of money / help.

    My personal identity theft insurance is in the form of a paper shredder and a refusal to give out personal information - I make stuff up and then record it in my password manager in case I need it later.

    cheers, Paul

  13. #13
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    all very good advice

    but still insufficient

    there are so many ways they can gather the info they need to steal your ID


    Quote Originally Posted by RetiredGeek View Post
    Hey Y'all,

    The best protection against Identity Theft IMHO is education, awareness and vigilance! e.g.,

    1. Limit the number of CC's you have (also good for your credit score), record all information on them, guard them zealously!
    2. Shred EVERYTHING with your name, address, telephone number, etc.
    3. Be Careful Be VERY Careful what you post on social media! (You know like your Mother's maiden name!, where you were born, what schools you attended!)
    4. Use a good Password Manager/Generator and NEVER reuse a password. Use the maximum length/complexity the site will allow.
    5. Have more than one Email address (one for FINANCIAL institutions ONLY!, one for Family ONLY, & one for everything else (maybe more than one) at a minimum.
    6. Have your computer protected by Software & Hardware Firewalls, several anti-Malware programs, and do offline scanning with a tool like Windows Defender Offline.
    7. Make sure your computer/phone/tablet has a good password/pin and never share it.
    8. Most important of all be careful where you CLICK! You can use a program like Web of Trust (free) to help but it's best to keep the nut behind the keyboard good and tight!

    I know there is some repetition of previous advice but I wanted to be as through as this old brain could be.
    HTH

  14. #14
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    Some good responses, but there is a simpler solution that will get you a level of protection that is in many ways superior to any credit monitoring service: Invoke a credit freeze on each of the 3 credit reporting agencies.

    The credit freeze prevents access to your record at the credit bureaus. No business or individual can access or query your personally identifiable information and credit history. Without being able to query your credit information it will be highly unlikely for an imposter to open any kind of credit account if the creditor cannot evaluate your credit history.

    The only downside to a credit freeze is that when you want to obtain credit, you will have to inform each credit bureau that you want to open access for a brief period of time, or limit access to a vendor that you specify.

    The cost of a freeze is quite minimal, depending on the state in which you live. In my state (and many others) it costs $10 for each credit bureau to invoke a freeze into perpetuity, and nothing to open temporary access. In other states, or if you are a victim of identity theft, it costs nothing.

    The freeze won't prevent theft of your identity for uses other than establishing new credit. However, you are reasonably protected from loss from from existing credit cards and bank accounts because of consumer protection laws. Most banks and credit cards have a free service that will notify you if a transaction occurs that exceeds a parameter that you have set (dollar amount, foreign, etc).

    There is nothing a credit monitoring service can do to protect theft from existing accounts. If their monitoring service works as advertised, you will know only after the theft has occurred. Ask yourself how do you determine the performance, reliability, and accuracy of a monitoring service? Reputation is not enough assurance to spend $150 a year without any objective evidence that their performance is superior to what you can do for far less cost.

    Here are some references:
    http://www.clarkhoward.com/news/clar...conomic-/nFhB/
    http://www.clarkhoward.com/news/clar...aw-guide/nFbL/

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  16. #15
    Silver Lounger RolandJS's Avatar
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    jmcafee, credit freezes have their limits, see Clark Howard forum, as well as other financial forums. Multi-layered ProActive protection, monitoring, strong ReActive plan in place [see Barker13], for me, would be best.
    "Take care of thy backups and thy restores shall take care of thee." Ben Franklin revisited.
    http://collegecafe.fr.yuku.com/forum...-Technologies/

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