In 2016 $16 billion was stolen from 15.4 million U.S. consumers through identity theft. Identity thieves committed tax fraud,credit card fraud, phone and utilities fraud, bank fraud, lease fraud and government benefit fraud.
Identity theft insurance can cover expenses involved in recovering your identity as well as help you defend against civil lawsuits for fraud committed in your name. It can cover legal fees necessary to remove judgments wrongfully filed against you and help defend you against criminal charges for crimes committed under your name.
It’s important to note that after the Equifax data breach of 2017 – we are almost ALL vulnerable to identity theft.