Best Proactive Ways To Prevent Identity Theft
March 12, 2008
Here are a few things you can do yourself to prevent identity theft happening to you.
Identity theft happens to more than eight million people annually, according to statistics from 2006 and this has lead to Lifelock becoming a prominent company who offer protection from identity theft. There are certain measures that the average consumer can take on a day to day basis that will help to prevent identity theft. These measures include guarding your privacy and personal information, shredding your mail and outdated financial documents, monitoring your credit reports, and possibly purchasing identity theft insurance which will not stop identity theft from happening to you but will prevent identity theft from eating up your savings and ruining your credit for a long time.
Guard Your Privacy
Too many people don’t know their rights when it comes to giving out information or even demanding to know how companies are treating their personal data. While most people know it is not a good idea to give out personal information through an email link or to a telemarketer over the phone, it is still a challenge for most people to take a stand in order to prevent identity theft when faced with an official sounding demand for personal info. Identity thieves know this and have started impersonating medical facilities, collections agencies, and even the Red Cross. When someone (the thief) is on the phone claiming that your loved one is in danger or that your house may be foreclosed on if you do not confirm your social security number immediately, it is difficult to ignore your panic and say no, not over the phone.
Shred Your Mail
Bank and credit card statements are not the only types of documents that you should shred to prevent identity theft. Purchase a crosscut shredder and destroy any financial statements you do not need for taxes, any offers for credit that come in your name, and utility bills once they are paid. By shredding these documents in a crosscut fashion you greatly decrease the chance that a dumpster diving identity thief will get their hands on your information, and take a big step towards preventing identity theft.
Monitor Your Credit Reports
Thanks to a new law that took effect a couple of years ago, every consumer is eligible to receive one free annual credit report from each of the three major credit reporting bureaus, Experian, Trans Union, and Equifax. By spacing your requests, you can obtain a free credit report once every four months. By carefully monitoring the information on your credit report, you can help prevent identity theft from happening to you.
Purchase Identity Theft Insurance
While identity theft insurance will not really prevent identity theft, it can make picking up the pieces afterwards much less devastating. Usually a policy will cover out of pocket expenses, including loss of wages while you clear up your credit history, as well as any charges that you are liable for. Most companies do not hold you responsible for charges made by an identity thief but it is always better to be safe than sorry. Identity theft insurance policies are reasonably priced at about $25 to $50dollars a year for $15,000 to $20,000 in coverage.
Of course, the best cure is prevention. For around $99 a year, Lifelock will prevent your identity from being stolen in the first place. Click here to qualify for the Lifelock promotion code discount.
Tags: Ways To Prevent Identity Theft, prevent identity theft
Tags: identity theft
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