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Best Identity Theft Protection Services From 2020 Good Financial Cents®

Best Identity Theft Protection Services from 2020 Good Financial Cents®

Identity theft protection services can help prevent anyone hacking into your brokerage account or using your personal information to open a new credit card on your behalf. Without this type of protection, your sensitive personal and financial information can be vulnerable to theft and fraud, making you an easy target for hackers and thieves.

Identity theft is a real problem

Unfortunately, identity theft cases are far too common. According to a 2019 report by Javelin Strategy and Research, more than 14.4 million consumers were victims of identity theft in 2018, a slight decrease from a record high of 16.7 million in 2017. In 2018, victims were also responsible for $ 1.7 billion in expenses related to this type of fraud.

The best way to protect yourself from financial loss and stress from identity theft is to pay a third party to monitor your credit reports and other sensitive details to keep an eye out for fraud 24/7. Obviously, this is a much better idea than trying to monitor all three of your credit reports and all of your accounts yourself, which is the ultimate pointless exercise.

But which service should you choose? Choosing an identity theft monitoring company may not be easy as dozens of players offer identity theft protection services, credit monitoring, and packages that combine a variety of these services for one monthly price.

In this guide, we’ve compared all of the leading identity theft protection companies for their included services, ongoing costs, and total value. Identity Guard has caught on with its comprehensive identity theft and credit monitoring plans, but there are a few other companies that have made the cut for our ranking. Before you sign up for this all-important protection, read on to see how the top companies compare.

The best identity theft protection services of 2020

The best identity theft protection companies offer a wide range of critical services to help protect you from identity theft and other types of fraud. The companies that made our ranking offer some of the most comprehensive cover funds money can buy at a price most people can justify and afford.

Best Identity Theft Protection Services Reviews

We’ve covered some of the basics of each plan we profile in the table above, but the full story isn’t told there. To find out which company is best for your needs, you should read more about the plans each company offers and everything that comes with them.

The reviews below list all of the highlights of each identity theft company, along with the possible shortcomings.

Identity guardian

Identity Guard ranked first on our list thanks to its solid identity theft coverage combined with credit monitoring and the general affordability of their plans. After all, their Premier plan is only $ 20.83 per month, but it includes dark web monitoring, monitoring of all three credit reports, tax refund notifications, and more.

Identity Guard’s basic plan is only $ 7.50 per month and the overall mid-tier plan is $ 16.67 per month. Note, however, that all three Identity Guard identity surveillance plans include $ 1 million identity theft insurance. You can also pay a little more for a plan that covers all family members, including underage children.

Why it got on the list: Identity Guard provides comprehensive identity theft protection for individuals and families, and their prices are among the most affordable overall.

What is holding it back: Identity Guard does not offer a free trial, so you need to commit to one year membership in advance.

LifeLock

LifeLock offers comprehensive identity theft coverage that is best for consumers who want extra protection online. A standard LifeLock membership is only $ 8.99 per month. However, you can pay for membership with the additional Norton 360 computer software. Norton 360 with LifeLock Advantage costs just $ 17.99 per month, while Norton 360 with LifeLock Ultimate Plus membership costs just $ 25.99 per month.

All LifeLock plans included tiered levels of coverage and surveillance to keep you safe from identity theft. This also includes various levels of identity theft insurance, as well as personal expenses coverage and reimbursement of stolen funds.

Norton 360 with LifeLock Ultimate Plus membership may be the best deal as you have identity theft insurance that covers up to $ 1 million for stolen funds refunds, credit monitoring of all three offices, bank account and credit card activity notifications, 401 (k) covers. and activity alerts for investment accounts and more for just $ 25.99 per month for the first year.

Why it got on the list: LifeLock doesn’t offer a free trial, but does offer a 60-day money-back guarantee. This gives you almost two months to try the service and see how well it works.

What is holding it back: LifeLock offers lower prices for the first year, but prices on your plan will increase after 12 months.

ReliaShield

ReliaShield offers identity theft protection plans for individuals and families. The plans for individuals start at just $ 7.99 per month. This company’s ReliaShield Elite plan for individuals is possibly the best value at $ 23.99 per month, considering it includes perks like dark web monitoring, social security number monitoring, privacy breach updates, judicial record monitoring, Includes monitoring of new bank accounts and unlimited recovery services.

Also note that all ReliaShield plans include $ 1 million stolen funds and reimbursement coverage. All family plans also include free coverage for children, which makes ReliaShield a good option if you want to protect your children from fraud at a young age.

Why it got on the list: ReliaShield provides affordable identity theft protection services for individuals and families. All plans include $ 1 million identity theft insurance.

What is holding it back: The most expensive family plan ReliaShield has on offer is $ 47.99 per month, higher than other comprehensive family plans on this list.

IDShield

IDShield is another credit monitoring company to consider, especially if you want access to a free trial. This company offers individual and family plans that include your TransUnion credit report only. However, you can also choose plans that include monitoring of all three offices. Each of their plans also includes $ 1 million identity theft coverage, as well as credit bureau monitoring, social security number monitoring, dark web monitoring, and credit tracking and reporting.
The biggest difference between IDShield plans is that you can choose to report from just one credit bureau (TransUnion) or all three. You can also choose from custom plans and family plans that cover you and a spouse and up to 10 dependent children.

Why it got on the list: Pay for complete identity theft protection for you, you and a spouse, or you and a spouse and up to 10 children.

What is holding it back: The cheapest deals just include monitoring your TransUnion credit report. This means you will have to pay more to monitor all three credit bureaus.

The main factors to consider

What services are offered?
When comparing the identity theft protection services listed below, make sure you are looking for the services you need most. This could include dark internet surveillance, social security number surveillance, or identity theft insurance to keep you safe.

How much will you pay
Most identity theft protection companies offer a few levels of coverage with tiered services. Keep in mind that if you want a full bells and whistle plan, you will likely pay more, but that coverage can be well worth it if it stops you from completely stealing your personal information and identity.

How well is each company rated?
Make sure you compare each company’s reviews, including customer ratings from people who have used or continue to use each company. Ideally, you want to pay for coverage from an identity theft protection company with great reviews and solid user reviews.

What you need to know about Identity Theft Protection Services

  • The risk of identity theft is real. If you think identity theft is a threat that you don’t need to worry about, think again. According to ReliaShield, 2.5 billion records were compromised in data breaches in 2017 alone. In addition, there were more than 16.7 million identity theft victims in 2017. Social media consumers are 46% more at risk when it comes to takeover fraud.
  • Make sure all three credit bureaus are monitored. While some identity theft protection packages only include monitoring one of your credit reports, you should pay extra to make sure that all of your credit reports are monitored, not just one.
  • Identity theft insurance is crucial. Also, make sure you consider plans that include identity theft insurance. This benefit is vital as it can reimburse you legal fees and expenses if a hacker or thief steals money from your bank account and you need to control the legal process to restore your identity.
  • You can also freeze your credit reports. If you are very concerned that someone will open an account with your information, you can also “freeze” your credit report with any of the three credit reporting agencies. The Federal Trade Commission (FTC) provides information on this free of charge.

How we selected the best identity theft protection services of 2020

You may be wondering how we came up with this list of identity theft protection services, but you can be sure we didn’t pull it out of nowhere. Our team considered a wide range of factors to separate the best companies from the rest of the package. While a lot of details came into play, here are the main factors that we considered and compared.

Identity Theft Insurance

We believe identity theft insurance is vital, which is why we’ve only placed plans on our list that include this vital coverage. If you’ve been a victim of identity theft, you’ll be glad to have covered your expenses, including legal fees and replacements for stolen funds. Without identity theft insurance, you might not be able to cover financial losses resulting from your own identity theft.

Monthly charges

We compared a variety of plans at many prices, but chose to only include identity theft protection services that offer the greatest value. In general, this means we’ve only included plans that offer a lot of services for a higher monthly premium. However, we also considered plans that offer basic identity theft protection for less than $ 10 a month, knowing that many consumers just want general protection and control.

Ratings and reviews

We looked at reviews and third-party reviews for each business, including Better Business Bureau (BBB) ​​rankings, Trustpilot reviews, Consumer Affairs, and more. We took into account both rankings from third parties and the general nature of user reviews.

Plan for inclusions

Finally, we looked for identity theft protection services that offer all types of account monitoring available today. The companies on our list offer the most comprehensive identity theft protection services on the market. However, this is especially true of their most expensive top-tier plans.

Summary: Best Identity Theft Protection Services of 2020


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