Best Identity Theft Protection Services of March 2022

A determined criminal, or even someone who’s just curious, can find a shocking amount of information about a stranger online. Social Security numbers, social media profiles, credit card numbers, bank account information, and much more are vulnerable to disclosure. Some of this information is obtained through data breaches, but much of it is publicly available. All of this means that a clever thief can potentially gather all the data needed to steal someone else’s identity. This will enable them to take out a loan or open a credit card in the victim’s name, receive a tax refund they aren’t entitled to or medical treatment they didn’t pay for, or otherwise damage the victim’s finances, credit score, and reputation. This damage can take years to recover from, often at great expense.

The good news is that identity theft protection can help prevent ID theft or restore your identity if you become a victim. The Best Identity Theft Protection Services of 2022 are:

To help narrow down the right identity theft protection service for you, below is a list of our top-rated identity theft protection services of 2022. Follow the links for complete reviews of each company.

Identity Force says that in 2020, 47% of Americans experienced financial identity theft, 9 in 10 Americans encountered a fraud attempt, and 1 in 6 people (33 million Americans) lost money to a scam.

Moreover, a recent study by the Identity Theft Resource Center (ITRC) found that data breaches were up 38%, and nearly 30% of people who contact the ITRC are victims of more than one identity crime. The study goes beyond the known financial implications of identity crimes and explores the emotional, physical, and psychological impacts experienced by victims.

According to the study, many of the 427 identity crime victims who contacted the ITRC between January 2018 and December 2020 experienced emotional impacts, physical consequences, and lost opportunities. For example, 10% of the victims said they had considered suicide.

The ITRC particularly focuses on victims of pandemic-related identity fraud. It found that of these individuals:

The Federal Trade Commission’s Consumer Sentinel Network reported that identity theft in 2020 had increased by 29.4% from the previous year. A 2021 report by Javelin Strategy and Research found that identity fraud losses in 2020 totaled $56 billion. Although traditional forms of identity fraud such as stolen credit cards were down in 2020 compared to 2021, there was a huge increase in identity fraud scams. This “can be attributed to criminals increasingly targeting consumers directly with scams to gain easy access to a treasure trove of personally identifiable information that enables them to take over a consumer’s identity,” according to a report summary.

Identity fraud is a relatively easy crime to commit and can target consumers directly, especially when they don’t take basic cybersecurity precautions like using strong passwords and antivirus software. Some identity thieves can even bypass financial services providers’ attempts to deter ID fraud. Identity fraud differs from traditional identity theft in that a consumer usually remembers interacting with a criminal through a text, call, or email in which their personal information was taken. With traditional ID theft, a consumer usually doesn’t know exactly when their identity was stolen. “Identity fraud has quickly evolved through unique societal changes related to innovation, the worldwide COVID-19 pandemic, and criminal tactics that focus on both corporate and consumer targets,” the summary said.

A 2020 report published by GBG, an identity verification company, found that consumers have lost trust in businesses’ ability to protect their data because of the prevalence of identity fraud. The report noted that online transactions have become more frequent, especially during the COVID-19 pandemic. This trend includes a third of people age 75 or older. But the report said that despite the increase in cybersecurity threats, including ID theft, doxxing, and hacking, many don’t take enough steps to secure e-commerce websites out of a concern that this will make them harder to use. In addition, the report found that:

According to the FBI, phishing is one of the most popular cybersecurity threats aimed at stealing someone’s identity. In a phishing attack, the hacker usually sends someone an email that looks like it’s from the victim’s bank, other financial institution, or another company that the victim uses. However, the website linked in the email is actually controlled by the hacker. If the victim clicks on the link and enters their personal information into the website that comes up, the hacker can steal it.

According to a survey by security company OpSec:

In addition, Consumer Reports reported that:

An identity theft protection service can’t actually prevent someone from stealing your identity. However, the service can limit the damage an identity thief can cause by promptly notifying you that your personal data might have been compromised. An ID theft protection service does this by monitoring your financial accounts as well as publicly available information on social media and elsewhere. In addition, you can receive credit reports from one or all of the three major credit bureaus to monitor your accounts. If any of this information indicates that your identity has been compromised, you can promptly notify your financial institutions, stores where you have credit cards, and other parties. In addition, many identity theft protection companies have U.S.-based customer service representatives who can help you recover your identity and restore your good name.

There are other steps you can take to protect your identity in addition to subscribing to an ID theft protection service. For example, it’s a good idea to regularly review credit and bank accounts and set up your own alerts with financial institutions. Our guide 10 Ways to Prevent Identity Theft has more information. Also protect your email accounts with strong passwords. If someone gains access to your email, they can create all sorts of problems, including wire transfer fraud and accessing other sensitive accounts online. Another common way people can steal your identity is by taking your mail, particularly bills and other documents with personal information. As a result, it’s a good idea to purchase a good locking mailbox.

Below, we explain more about the benefits of identity theft protection, what to look for when shopping for one, and other important information. In addition, to help narrow down your choices, we discuss our Best Identity Theft Protection Services of 2022.

Buying an identity theft protection service can help guard your identity and finances from scams and hackers, as well as assist you if you have become a victim of identity theft. You have some protection against identity theft even if you don’t subscribe to an identity theft protection service. For example, credit card companies tell their customers about suspicious charges that could indicate a stolen card, and they help customers resolve those charges with merchants. You also can take plenty of steps to protect your own identity, such as reviewing your financial account statements for activity you don’t recognize.

Robert Douglas, an information and security consultant and certified identity theft risk management specialist, says an ID theft protection service can be useful – but only if you do your part. “If you honestly don’t look at bank statements that often and won’t use these tools yourself, then an identity theft protection service functions by standing in for you and giving you the monitoring capabilities that you might already have with [credit cards and banks],” he says.

Identity theft protection can’t actually prevent identity theft. However, it’s worth the monthly cost because it can substantially limit the harm an identity thief causes by tracking your personal information on social media and other online platforms. It can also perform dark web monitoring, data breach monitoring, Social Security number monitoring, monitoring of credit-related information, and other services. In addition, an ID theft protection service can scan your financial accounts and send you credit reports periodically. By monitoring all of this data, Robert Siciliano, CEO of Safr.me explains, an ID theft protection service can notify you about fraudulent activity before an identity thief has time to do much damage. This will allow you to immediately contact your financial institutions and other parties to tell them that someone has stolen your personal information. Many ID theft prevention services also can help you recover your identity using trained, U.S.-based specialists.

Using identity protection makes sense for those looking for extensive protection against identity theft or assistance after their identity is stolen. Our personal data are widely available in the age of the internet. “I tell my clients to assume that their information has already been stolen,” Douglas says. Thus, although identity thieves most often go after children, the elderly, and college students, an identity theft protection service can benefit anyone.

People who have been defrauded find these services especially attractive. “More often than not, consumers engage services such as these as a result of fraud happening in their own lives or to someone close to them,” Siciliano says. “Or, they’re very concerned about all the various media reports that they see and recognize the risk.”

To sign up for an identity theft protection service, you will have to provide personal information for the service to monitor. This includes your Social Security number, financial account numbers, and other personal data. This means you need to be comfortable disclosing that information. “I’m not aware of any ID protection service that has been the cause of a breach to date, and after all, what they are really doing is monitoring,” he says.

For the identity theft protection services in our rating, plans costs can range anywhere from $9.99 to $34.99 a month depending on the services provided and the number of members on the plan. Many services allow you to pay month-to-month or an annual fee. Below are the prices of our Best Identity Theft Protection Services of 2022.

You should look for an identity theft protection service that offers the protection that matters most to you and fits in your budget. When shopping for an identity theft protection service, the top-tier plan may seem like the best choice, but a cheaper plan could be a better fit depending on your needs and budget. Basic credit monitoring and reporting, including alerts for suspicious activity in your financial accounts, are important for almost everyone and are included in most plans, no matter the tier. If these features are all you need, a cheaper plan will be just fine.

If you’re looking for additional protection beyond basic credit and financial monitoring, midrange plans can be useful. Some midrange plans include dark web monitoring, social media monitoring, and change-of-address alerts. Midrange plans can also include identity recovery services like a dedicated customer service agent and insurance to help with recovering your identity if it’s stolen. Along with protection, midrange plans can include planning features like credit score simulation tools to estimate how major financial decisions like taking out a second mortgage will affect your credit.

Premium identity theft plans offer services like file-sharing network searches, credit reporting from all three bureaus, reports from sex offender registries, medical ID monitoring, and real-time notifications if someone attempts to open an account using your personal data. Some ID theft protection companies also provide safe web browsing tools, protection from malware, and/or a virtual private network.

In addition to looking at the services a company offers, Henry Bagdasarian, founder and executive director of the Identity Management Institute, says to scrutinize its privacy policies, which outline how the company handles and protects your data. A good ID theft protection service will submit to periodic audits by independent security experts. “This is the best way for consumers to know the company has gone through an independent security test,” he says. In addition, choose a company that permanently deletes your data if you cancel the service. “It is likely stored in perpetuity unless their terms of service and conditions say otherwise,” Siciliano says.

Finally, read the terms and conditions carefully. These explain exactly what the plan covers and doesn’t cover, how much assistance (if any) you will receive to restore your identity if it’s stolen, and what identity theft insurance covers. You’ll notice a lot of fine print on the companies’ websites, Siciliano says. “There are lots of little asterisks, and you have to read carefully to understand what you are really getting,” he says. “Before you make the investment, understand what your risks are and what could occur, and ask for examples of what the company will or will not compensate for — what is protected and what is not.”

Below are some key features of our Best Identity Theft Protection services of 2022.

Credit monitoring is a good idea for those who want to watch their credit activity and help minimize identity theft risks. Credit monitoring immediately tells you about changes in your credit reports caused by someone trying to open a bank account or credit card in your name. If that happens, time is of the essence; the longer it takes to find out about the fraud, the harder it is to recover.

Although it’s impossible to completely prevent identity theft, there are strategies you can use to minimize your risk. These include:

To report identity theft to the police, you’ll need to:

Identity theft insurance reimburses you for expenses incurred to resolve problems related to identity theft. These could include, for example, attorney and accountant fees, lost wages if you have to take time off of work, and care for children or elderly parents. However, ID theft insurance doesn’t cover stolen funds. A provider’s terms and conditions will explain exactly what the policy does and doesn’t cover.

Identity theft insurance is different from homeowners or renters insurance, which is meant to cover damage to your home and its contents. By contrast, insurance from ID theft prevention services like LifeLock and Identity Guard specifically pertains to ID theft recovery costs.

Although ID theft insurance can be useful, it shouldn’t be the deciding factor in selecting an identity theft prevention service. “The insurance offered should be low on the scale of deciding whether or not you want to use a particular provider,” Siciliano says. “It does not have much impact when it comes to proactive protection or even restoring a stolen identity.

Here are some other brands to consider in addition to the Best Identity Theft Protection Services of 2022. These companies previously made our rating of the top identity theft companies, but didn’t meet our criteria for our current rating.

To learn more about identity theft, see the guides below

The following describes our 360 approach to researching and analyzing Identity Theft Protection Service Providers to provide guidance to prospective consumers.

At U.S. News & World Report, we rank the Best Hospitals, Best Colleges, and Best Cars to guide readers through some of life’s most complicated decisions. Our 360 Reviews team draws on this same unbiased approach to rate the products that you use every day. To build our ratings, we researched more than 34 companies and analyzed 19 reviews. Our 360 Reviews team does not take samples, gifts, or loans of products or services we review. All sample products provided for review are donated after review. In addition, we maintain a separate business team that has no influence over our methodology or recommendations.

1. We researched the companies and products people care most about.

U.S. News analyzed and compared a variety of publicly available data, including internet search data, to determine which identity theft protection service providers Americans are most interested in. We found 18 companies that stand out in terms of volume of searches and research among consumers, as well as across the different rating sources. Once we identified these companies, we reviewed the different plans and product features available by each company at the time of publication. We then narrowed our list to the best companies in this category.

With the companies determined, we compared available plans and packages offered by each identity theft protection service provider across several criteria to assist the consumer in making the best decision based on their needs. We reviewed the monthly cost, monitoring tools, tech features such as mobile applications and smartphone alerts, technical support, and other plan specific unique features. With careful consideration, we highlighted the most comprehensive plan offered by each company based on the above mentioned features.

2. We created objective 360 Overall Ratings based on an analysis of third-party reviews.

Our scoring methodology is based on a composite analysis of the ratings and reviews published by credible third-party professional and consumer review sources. The ratings are not based on the personal opinions, tests or experiences of U.S. News. To calculate the ratings:

(a) We compiled two types of third-party ratings and reviews:

Please note that not all professional and consumer rating sources met our criteria for objectivity. Therefore, some sources were excluded from our model.

(b) We standardized the inputs to create a common scale.

The third-party review source data were collected in a variety of forms, including ratings, recommendations and accolades. Before including each third-party data point into our scoring equation, we had to standardize it so that it could be compared accurately with data points from other review sources. We used the scoring methodology described below to convert these systems to a comparable scale.

The 360 scoring process first converted each third-party rating into a common 0 to 5 scale. To balance the distribution of scores within each source’s scale, we used a standard deviation (or Z-Score) calculation to determine how each company that a source rated was scored in comparison to the source’s mean score. We then used the Z-Score to create a standardized U.S. News score using the method outlined below:

(c) We calculated the 360 Overall Score based on a weighted-average model.

We assigned “source weights” to each source used in the consensus scoring model based on our assessment of how much the source is trusted and recognized by consumers and how much its published review process indicates that it is both comprehensive and editorially independent. The source weights are assigned on a 1-5 scale. Any source with an assigned weight less than 2 was excluded from the consensus scoring model.

Finally, we combined the converted third-party data points using a weighted average formula based on source weight. This formula calculated the consensus score for each product, which we call the 360 Overall Rating.