In general, identity theft protection is quite affordable, especially when you think about how much you could end up paying if you find yourself in this dilemma without any protection. Plans are usually available on a monthly or yearly subscription basis, ranging from around $10-$30 per month on average for an individual plan, slightly more for family plans, and customized pricing for business plans depending on the size and needs of the company.
What to Look for When Choosing a Plan
Companies often offer three or more plans that vary based on what they monitor and how much insurance reimbursement is guaranteed. When choosing a plan, it may be a good idea to first evaluate your level of risk. Usually, companies will have a professional on hand who can help you evaluate and choose what plan is right for you. Do you have multiple bank accounts? Several credit cards that risk being taken over or defrauded? High balances in your accounts that thieves would love to get their hands on? The more present and high-profile you are, the more monitoring you’ll need, and therefore the more backup funds you should be able to count on – meaning you may want to consider going for one of the premium options.
Saving on Identity Theft Protection Services
Besides coupons and promotions that you can often find for identity theft protection products, there are many other more consistent ways to save money. Family plans are great because they generally allow two adults, plus several minors in the same household to be under one plan that doesn’t usually cost much more than an individual plan. Meanwhile business plans ordinarily allow companies to place bulk orders of protection for their clients or employees at significantly discounted prices.
In general, purchasing an annual plan as opposed to a monthly one will result in big savings, no matter which plan you choose. Of course, purchasing an annual plan is much more of a financial commitment than signing up for a monthly one, so you should be sure about the company you decide on. Luckily though, many offer money-back guarantees in case you end up changing your mind after your purchase.