{year}'s Best Identity Theft Protection

It was important for us that the companies we picked had 24/7 dark web surveillance and they checked credit history at least daily. We looked for companies that claimed they had a strong alert system in place and made sure they had the reputation of doing so.

Companies will proactively monitor the internet and other databases for your personal information. This can include, but is not limited to your: name, address, phone number, Social Security number, bank account numbers, and credit/debit card information. They achieve this by monitoring things like public records, criminal records, medical/insurance records, and black market internet sites to ensure the integrity of your personal information is sound.

Even if the company finds something fraudulent or criminal, they may not be able to do anything to remove it. However, chances are, neither could you. Instead, the identity theft protection provider can alert you faster than you would find out on your own, and work with you on damage control.

Additional services offered to protect you could include computer security software, such as anti-virus/anti-malware or keystroke encryption software. Some companies will also remove your name from junk and pre-approval mailing lists, which lenders use to mail pre-approved credit card and loan offers to consumers. By removing your name from this list, thieves cannot steal these letters from your mailbox or from the trash.

Children in particular are at risk more and more because they have “clean” credit history linked to their Social Security number. It can take years for this type of theft to be noticed, giving thieves ample time to ruin a child’s financial reputation. Many companies recognize this threat and offer identity protection for children as an additional or stand-alone service.

Companies will monitor the internet and public databases, like:

• Black market websites
• Public Records / Court Records
• Medical / Insurance Records
• And more…

And look for your personal information, like:

• Your name
• Address
• Phone
• Social Security Number
• Bank Account Numbers
• Credit/ Debit Card Numbers
• And more…

The Bottom Line:

The best Identity Theft Protection services also monitor the internet and public databases for your personal information. If they find that your information has been compromised, they will try to remove it, but this may not always be possible. In these cases they will notify you promptly and work with you to limit the extent of the damage. Remember, early detection is key when it comes to protecting your identity.

With identity theft protection services, less is definitely not more. Basic features identity theft protection service plans should include are dark web surveillance, personal information surveillance, and credit monitoring. However, the more places scanned or investigated, the better. Companies that had a robust features list made our cut.

One of the biggest debates when it comes to Identity Theft Protection is whether or not it's worth purchasing. Opponents will argue that it is a waste of money because a lot of what companies do, you can do for yourself. While you can monitor your credit and bank accounts yourself and identity theft victims have plentiful access to recovery resources, many people find that in the long run it takes too much of their time and they end up not continuing the good habits they intended to practice. If you do not monitor your credit and accounts regularly and take precautionary steps, you are not protecting yourself. As a result, many people decide to outsource this responsibility to a company that will do it for them.

Companies offer different levels of service, with basic plans starting around $10-15 per month typically. Premium packages usually fall in the $25-30 range. These are the packages that offer the four services we suggest when looking for an identity theft protection company.

If you pay for longer periods of time upfront (typically a year), you will likely see a significant discount to your service. However watch out because cancellation policies may differ and a few companies may not reimburse for time paid upfront, so make sure you know what you’re options are before signing up.

Some companies also offer packages that will protect your entire family. These packages are discounted compared to an individual subscription, so this may be the best option for consumers looking to cover multiple family members. If you're looking to protect your child, the cost may be discounted if purchasing coverage for an adult in tandem.

The Bottom Line:

For $1 a day, it’s not surprising that so many people are interested in outsourcing identity theft monitoring to a company that specializes in this. Monitoring yourself can be time consuming and costly, and many people loose interest over time.  If you pay upfront for longer periods of time, you will likely get a discount, but make sure you understand the cancellation policy, so you are not caught unaware. Some companies also offer packages for families.

To make sure you get the best possible deal, we suggest checking rates on the company’s website as well as calling them directly. Sometimes offers on the phone are different than the offers online.

Being a victim of identity theft is painful. It can take a long time to recover from it—and you never really know when the damage has been stopped. If your information finds itself in the digital space, there’s a strong chance you’ll always have that dark cloud hanging over your head for a long time. This is the reason we prefer companies that assist consumers with the restoration of their identity, preferably ones that take care of it for the consumer.

Identity theft insurance policies vary depending on the company and plan you select. Very few reimburse stolen funds, but many cover costs associated with recovering your identity, like legal fees, lost wages, and travel expenses.

Pick an insurance policy with no deductibles or you may find yourself responsible for the first $100-$500 before coverage kicks in. Coverage ranges from $25,000 up top $1 million.

In addition to the services offered by identity theft protection companies, we also review companies based on their customer service.

Most identity theft protection companies have limited hours of operation. While some companies do operate 24/7, this is an added perk though not a requirement. Many companies keep normal business hours because over the years they have found that, even if a fraud is noticed past business hours, there is little that can be done until the next business day to resolve it. Oftentimes, if you are the confirmed victim of identity theft, companies have specialists that will work with you outside of normal hours of operation to reclaim your identity.

Security standards for the company are also important. These companies help us keep our personal information private, and therefore should place a great deal of importance on the security of their website. Websites should be secured with encryption (HTTPS). Company servers should also be secured, not only from external hackers but anyone internally who is able to access the servers.

Company employees receive training on how to handle private information securely and workplaces have strict policies that make it difficult for internal theft of information, such as video surveillance of employees or advanced internal software which prevent employees from being able to access your personal information files. The internal security policies and practices are often difficult to determine, so we suggest asking about this before signing up with a company. Additionally, look for a company with a history in the industry and a reputation for great customer service.

We also like identity theft protection companies who have online resource centers for their customers (some are even open to the public). Here, you can find articles that help you expand your knowledge of identity theft, find forms that you may need if you become a victim, and guides and links that can help you answer your questions. However, with the number of resources available online for identity theft victims, this should not be a requirement.

Most identity Theft Protection Companies are transparent about their policies, services & limitations.

Because of the sensitive nature of the information they protect, the best companies want to make sure their customers feel safe and are happy to answer questions (as long as it’s not about proprietary information).

The Bottom Line:

Most Identity Theft Protection Companies keep regular business hours during the week, while some offer around the clock support. Just because the company is available 24/7 does not mean you will be getting the best services, so don’t let this be the main factor in selecting a company. Additionally, pay special attention to security measures taken by the company. Each company may have different practices and security measures in place, so don’t be shy about asking.

Make sure you take the time to read over the service agreement, privacy policies, or any other legal documents, agreements or guarantees before you sign up. We cannot stress this enough! Because of the private nature of information these companies will have access to, you want to ensure that you understand what the company can and cannot do with your information, as well as the services they can and cannot provide to you.

Find a service without a long-term contract if possible. Most identify theft protection companies do not have long-term contracts, and paying month-to-month is the most popular option for most consumers. However, many companies offer quarterly or annual subscriptions as well, and may even discount your monthly rate if you pay upfront for longer periods of time.

Cancellation should be easy. Most companies allow you to cancel your service at any time and many will reimburse you for the time you did not use, while others will keep whatever you’ve paid upfront. Again, make sure to read your service agreement carefully to determine cancellation terms.

The majority of companies offer a trial period for their services, usually lasting 14-30 days. Some companies offer one-time services like providing your credit report or scores, and do not offer refunds for products provided to you (unless you don’t receive said product, in which case the company will typically refund you).

Service Agreements:

• Avoid long-term contracts. Month-to-month subscriptions are the most popular option among customers
• Cancellation is easy, just call and cancel at anytime
  • Some companies will reimburse you for unused time
  • Some will just keep any payments you’ve made up front
• Most companies offer free trial periods

The Bottom Line:

Read all documentation carefully (agreements, guarantees and especially any legal documents) to understand what a company can and cannot do with the information you provide. Additionally, avoid long-term contracts. Most customers opt for a month-to-month subscription. Cancellation is easy, just call to cancel whenever. Make sure you understand the cancellation policy as some companies do not reimburse for time unused. Also, some companies offer trial periods, typically 14 days or more. 

We do our best to keep our information up to date, however we always suggest you double check with the companies before making any commitments to make sure you are getting the services you need and you understand the policies in place.