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Is it identity theft protection worth the money? If you’re on the fence about it, here’s everything you should know before making a decision.
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Identity theft occurs when someone uses your information for personal or financial gain. This could include your name, Social Security number (SSN), birthdate, etc.
Credit card fraud, medical identity theft, tax fraud, social media account takeovers, and criminal identity theft are just some of the very real risks of identity theft.
Unfortunately, scammers have figured out more ways than ever to acquire the information they need to steal your identity.
For one, identity thieves can steal your wallet and gain access to your credit cards, debit card, and ID. They can also dig through your mail for documents that contain your SSN. They might even trick you into giving up sensitive information through phishing emails and scam calls.
Even worse, scammers can buy your information off the Dark Web for just a few dollars.
Valid SSNs, health insurance information, and even passports can be found on Dark Web marketplaces for as little as $5 [*].
These stats are scary. But the truth is that identity theft has become an unfortunate, everyday side effect of our digital lives.
The average American now has over 100 online accounts and ten connected devices [*]. In addition to a thief stealing your wallet, every account, social media post, and email that you open could allow an identity thief into your life.
As one former identity thief told The New York Times [*]:
“The reason that people aren’t being victimized is because there simply aren’t enough criminals to take advantage of all that information that’s out there.”
The honest answer is no, you don’t necessarily need identity theft protection services.
Even though identity theft is at its worst recorded level, news and consumer review sites are quick to point out that you can do almost everything an identity theft protection provider does by yourself.
Most identity theft protection services do two things very well:
While monitoring and fraud alerts are valuable ways to protect your identity, they don’t do anything you can’t do on your own.
📚 Related: All Of The Ways Identity Theft Can Happen (and How To Protect Yourself) →
📚 Related: How Long Does It Take To Recover From Identity Theft? →
Even if you don’t need to pay for identity theft protection, there’s a simple reason why you should still consider signing up: you’re busy.
In all likelihood, you have countless other tasks, interests, and concerns that take priority over checking your credit, monitoring who’s using your SSN, and securing your online accounts each day.
An identity theft protection service does all of the work for you.
But, even if you want to sign up for a provider, which one should you choose? LifeLock? Identity Guard? Aura?
There are many options to compare and contrast. And when things get complicated, it’s human nature to choose convenience over security.
For example, one recent survey found that 91% of people know that reusing a password puts them at risk of identity theft. Yet 66% always or mostly reuse the same password [*].
But if we’re all at risk, why pay for a service that can only alert you about identity theft? Isn’t that like someone telling you you’ve been in a car crash after the crash has already happened?
The best identity theft protection services also offer generous insurance policies to cover losses from identity theft along with 24/7 support provided by experienced fraud resolution specialists who are able to walk you through an identity theft recovery plan.
This means you'll find out faster if you're a victim; and if you are, you can count on the dedicated assistance of experts to help you recover your identity.
📚 Related: How To Avoid Refund & Recovery Scams — Don't Get Scammed Twice →
All providers offer some combination of monitoring and alerting features.
But modern tools are moving from purely reactive measures — alerting you after identity theft has happened — to proactive ones that help prevent theft in the first place.
Identity monitoring is often your first line of defense against fraudsters. The sooner you can catch them misusing your identity, the quicker you can shut them down.
📚 Related: How To Find Out If Someone Is Illegally Using Your Name →
Credit monitoring can help detect:
In 2020 — the latest year where data was available — 67% of Americans said they didn’t monitor their credit reports [*]. A credit monitoring tool can help you stop scammers before they take hold of all of your assets.
All-in-one identity theft protection services like Aura come with device security tools, including:
📚 Related: Is a VPN Worth It? What To Know Before You Use One →
People of all ages are at risk of identity theft. More than one million children were victims of child identity theft, while older Americans (60+) lost $1.7 billion to fraudsters last year alone.
Family identity theft protection plans help you monitor the more vulnerable members of your family. You can track your child’s SSN for signs of identity theft and monitor the credit of your elderly parents or grandparents.
📚 Related: Understanding Spousal Identity Theft and How It Happens →
Many providers include 24/7 U.S.-based support teams and White Glove Fraud Resolution specialists that can help you by:
📚 Related: Is McAfee Identity Theft Protection Worth It in 2024? →
Identity theft insurance provides coverage and reimbursement for costs associated with identity fraud. Providers offer a wide range of coverage, from a few thousand dollars to $1 million or more. Identity theft insurance typically covers:
You may have identity theft coverage as part of a general insurance policy (such as Allstate). However, identity theft insurance coverage is usually more comprehensive.
Identity theft protection can help protect your family’s online and financial accounts, PII, device security, and cover losses due to fraud. But no provider can prevent all types of identity theft and fraud.
In fact, in 2015, LifeLock — one of the largest providers of identity theft protection services — entered into a $100 million settlement with the FTC over deceptive claims about its ability to protect its customers’ identities [*].
📚 Related: How To Protect Your Identity Online in 2024 →
Total costs vary for identity theft protection services. But many providers offer an entry-level package that costs around $10–$12 a month. This should include key features such as identity monitoring, credit monitoring, and $1,000,000 in insurance coverage.
Many providers also offer a free trial period and a money-back guarantee to allow you to try out their services and see if they’re right for you.
If you’re ready to consider an identity theft protection service, there are more options than ever to choose from (including ones not on this list, such as Zander and ProtectMyID). However, some don’t offer the same levels of protection and monitoring as others.
Here’s our list of the 5 top-rated identity theft protection services from sites like Security.org, U.S. News, IdentityProtectionReview.com, and more.
Aura has been rated as the #1 identity theft protection service by major publications including Money.com, Forbes, Tech Radar, USA Today, and more.
Here’s what the reviewers at Security.org wrote about Aura:
“One of Aura’s real strengths is that it draws information from so many different sources in order to keep your identity safe. Aura is constantly checking Dark Web sites, data broker lists, public records, and new account records, looking for your name, Social Security number, address, and other identifying information. You can be certain that if someone has hijacked your identity, Aura will catch them.”
Aura pros:
Aura cons:
Ready to get started? Sign up for your free 14-day trial of Aura today →
Identity Guard is another highly-rated identity theft protection service that is now owned by Aura. Together, the two brands offer some of the most comprehensive, advanced, and user-friendly identity theft protection on the market.
While Aura offers all-in-one protection — including antivirus and device protection — Identity Guard focuses on protecting your identity from existing and new threats.
Identity Guard differs from other providers in its use of artificial intelligence (AI), enabling it to constantly search for new threats against your identity.
Identity Guard pros:
Identity Guard cons:
📚 Related: The Top 5 Identity Theft Protection Apps (iOS & Android) →
IdentityForce has over 40 years of experience defending against identity theft and is available for both individuals and businesses. IdentityForce combines many of the top features of other providers, including identity monitoring, insurance coverage for financial losses, and identity recovery services.
IdentityForce pros:
IdentityForce cons:
📚 Related: IdentityForce vs. LifeLock — Which One Is Right For You? →
LifeLock by Norton is one of the more popular identity theft protection services. After being acquired by Symantec (the makers of Norton), LifeLock became an all-in-one digital security solution that includes antivirus software and a VPN. But is LifeLock worth it?
Unfortunately, LifeLock has had its fair share of bad press lately. LifeLock’s digital security features can cause serious device slowdowns. But even worse, LifeLock recent disclosed that it was hacked, with sensitive information from thousands of customers — including passwords — being compromised [*].
LifeLock pros:
LifeLock cons:
📚 Related: Aura vs. LifeLock: Which Is Right For yYou? →
ID Watchdog is a more family-oriented identity theft protection provider owned by Equifax.
ID Watchdog claims to offer protection beyond credit card fraud to include tax-related identity theft, child identity alerts, and social account monitoring to help prevent cyberbullying. The company claims to monitor "across billions of data points" to search for signs of potential fraud.
ID Watchdog Pros:
ID Watchdog Cons:
Editorial note: Our articles provide educational information for you to increase awareness about digital safety. Aura’s services may not provide the exact features we write about, nor may cover or protect against every type of crime, fraud, or threat discussed in our articles. Please review our Terms during enrollment or setup for more information. Remember that no one can prevent all identity theft or cybercrime.