ID theft insurance – an expensive rip-off?

by John Evelyn on March 23, 2009

Oops!! Identity theft is a worry for many people. Our research shows that nearly a quarter (23%) of people or someone they knew had been the victim of a phishing scam. Halifax Home Insurance report that identity theft is a major worry for 55% of people, second only to burglary.

So, insurance against it sounds like a good idea?

No, according to LoveMoney.com, it is an “expensive rip-off.” Instead of a £60-80 a year insurance policy, replacing key documents costs much less and you can buy protection registration yourself for £13.80 – a considerable saving.

Here are ten tips from LoveMoney.com about avoiding identity theft. You can also read Get Safe Online’s advice and tips on fixing things if you have become a victim.

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