How well are you protecting your private information? Is it really enough to prevent identity theft? The truth is that this is an incredibly widespread problem that millions of Americans face each year. While you think you might be doing enough, there are still important steps you need to take to ensure you’re protected against hackers and thieves.
But, where do you begin and what can happen if you don’t act accordingly? Thankfully, our Billy Brown Insurance team has put together this quick post on what you need to know about identity theft and a few great options for protecting yourself from it.
Understanding Identity Theft
It’s important to understand what identity theft is so that you can protect yourself. Essentially, identity theft is any instance where someone takes your personal information and assumes your persona or likeness for some sort of gain. In certain circumstances, this can be monetary or it can just be for personal satisfaction.
For example, imagine someone taking personal photos of your family off your social media profile and opening a new one to pretend to be you. This is identity theft. Other examples include using your financial details to open a mortgage without your permission or even applying for a job with your social security number to keep from having to pay income taxes.
Is Your Identity Safe?
The simple answer is that your identity is not safe. Whether you are shopping at Home Depot on a regular basis, browsing Facebook, or grabbing lunch with friends at Panera, you’re providing companies with personal details like your name, address, and credit card numbers. These organizations are just a few examples of large firms that have encountered a data breach over the last couple of years.
In fact, data breaches are so common that it’s estimated that nearly everyone’s personally identifiable information has been stolen at one point or another. That means that millions of people’s contact information and financial details are available on the dark web, which is very scary.
Keeping ID Theft from Happening to You
It’s important to note that just because someone has your personal information, it doesn’t mean that you’ll be the victim of identity theft. Rather, it is important to spot warning signs early. For example, it’s a good idea to invest in credit monitoring, which lets you know if someone has attempted to open a new credit account in your name. You should also obtain a copy of your full credit report once a year to check for any discrepancies. If you feel you’ve become a victim of identity theft, make a report to local law enforcement as soon as possible and freeze your credit file.
What You Need to Know About ID Theft Insurance
Did you know that there’s a special type of insurance coverage available to help protect you in the event your identity is stolen? Identity theft insurance helps pay for costs associated with clearing your credit profile and fixing issues associated with an identity theft situation or data breach. This great coverage is incredibly affordable and available from your local insurance agency.
The idea of having your identity stolen is both frightening and a possible reality. Instead of worrying about if it could occur, it is better to take concrete steps to prevent it from happening and be ready to handle things if it ever does.
Are you ready to learn more about identity theft insurance coverage? Our team of insurance professionals is here to help. Contact Billy Brown Insurance today to schedule your no-obligation coverage review appointment.