How To Avoid Identity Theft And How Your Home Insurance Can Help

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The internet and electronic data has made it easier for your identity to be stolen.

In a nutshell, identity theft involves collecting someone else's personal information for criminal purposes. There are any number of ways that someone can steal your identity. If they are able to get into your wallet or purse, there is normally more than enough information there to take action. It's not surprising that when large groups of individuals are targeted that we here it in the news.

Much of this takes place in the online environment. Scams such as skimming, phishing, and hacking allow criminals and organized crime to gather profiles of potential victims. Everyday we get warnings about trojan viruses or malware designed to capture our more sensitive personal data.

Most of these types of scams seem obvious the average person but there are always victims out there.
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They Can Cause Havoc with your Information

Having money removed from your account could be devastating but it would not necessarily be the worst thing that could happen. Of course, they can completely mess up your entire financial standing. Our credit score follows us everywhere and significantly impacts our financial life. This can take a ridiculous amount of time to resolve, especially considering how commonplace this has become.

The news is filled with stories of people having new bank accounts opened in their name; they have loans they know nothing about; they made purchases of large ticket items that they never actually did themselves.

Creating an Online Persona

You'd be surprised how little information is required to gather more information about a person. In other words, they can begin with one or two items, then build a profile of you and start to get other information. People are more willing to provide information over the phone, for example, when you can identify one or two personal mentions of note. This could allow someone to secure that key piece of information that leads to more doors opening up and eventually the complete theft of your identity.

How Do you Stop This?

Never send personal information electronically. That's should be a signal that something is not right. No reputable business or bank is going to ask you for that information without providing you with some security assurances. A little inconvenience will usually be acceptable for someone calling from your financial institution. Let them know you'd prefer to provide this information in person. If there is any resistance on the other end, you should stick to your guns.

Use your common sense and in more cases than not, you'll be okay. Make sure you cover you bank card, for example, when you are entering your PIN. All of your passwords should be changed routinely and it would be wise not to use the same passwords for multiple accounts. And don't put sensitive information into the trash bin without shredding it first.

Can Insurance Protect You?

There is identity theft a financial loss coverage available. It's extremely affordable and it's being added to home insurance policies more and more these days. It's designed to assist you with any losses you suffer from identity theft.

by: Tom More

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