Identity theft is probably one of the most costly things that can happen to you, especially if you leave it unresolved for a while. Signing up for a credit monitoring service or identity theft protection insurance can help you stay protected should you fall victim to this. PennyGem’s Johana Restrepo has more.
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00:00Identity theft is probably one of the most costly things that can happen to you, especially
00:08if you leave it unresolved for a while.
00:11CNBC reports that in 2019, identity fraud cost consumers $16.9 billion.
00:18Your identity is more likely to be stolen through phishing attempts where people click
00:23on suspicious links from emails and share personal information thinking it's a legitimate
00:28site.
00:29Signing up for a credit monitoring service or identity theft protection insurance can
00:33help you get back some money and stay protected should you fall victim to this.
00:38The more coverage, the better, of course, and the higher the coverage, the higher the
00:42membership fee will be.
00:44Identity theft protection won't keep you from falling victim to identity theft, but it will
00:49help you keep tabs on all of your financial accounts and public information available
00:54on the internet through things like social media.
00:57It's also a great way to keep track of your credit reports to notice any changes.
01:02Both U.S. News and CNBC recommend checking out policies from highly rated companies like
01:08Identity Force, Identity Guard, Privacy Guard, and LifeLock.