Monthly Archives: April 2016

Identity Theft

Your Identity Belongs to You.
Protect It!

 The Bureau of Justice indicates that 17.6 Americans (about 7% of people 16 or older) were victims of identity theft in 2014.

According to the Bureau of Justice Statistics – Victims of Identity Theft, 2014 the victim characteristics are:

“More females (9.2 million) were victims of identity theft than males (8.3 millions). Among racial groups, whites experienced identity theft at higher rates (8%) than blacks (5%), other races (6%), or Hispanics (5%). Victims ages 25 to 64 (8%) had the highest rate of identity theft, compared to all age groups. Persons in households with an annual income of $75,000 or more had the highest prevalence of identity theft (11%), compared to those in all other income brackets.”

The smartest way to protect yourself from identity theft is to prevent it from happening to you by keeping close tabs on your social security number and financial accounts. However, if your identity is stolen, you’ll be able to lessen problems by acting quickly.

 

  • Call your credit card companies immediately. Explain what happened, and ask where to send a copy of the police report.
  • Call and report to the police. Make several copies of police report.
  • Complete a Federal Trade Commission (FTC) Theft Affidavit and FTC report (call 1-887-ID-THEFT to request the forms).
  • Call your bank. They can place an alert on your Driver’s License number and Social Security Number, and freeze your account.
  • Call fraud units of credit report agencies: Experian, Equifax, and Transunion.

 

Fortunately, identity theft protection is available as an endorsement on most homeowners’ policies at a small cost ($15-$25 per year). The coverage reimburses certain expenses associated with identity recovery. Customers can also get guidance on how to protect themselves from ID theft before it happens and may receive assistance with identity restoration.

If you’re interested in learning more, call the Insurance Center of Milwaukee at 414-744-6614 or e-mail info@InsuranceCenterMilwaukee.com