Is Credit Protection Insurance Worth the Cost?
Many people are worried about the potential of becoming a victim of identity theft and wonder if credit protection insurance might help them. Many experts agree that credit protection insurance is not worth the money. First of all, if any unauthorized person uses another person’s credit card, the credit card holder is only liable for a maximum of $50 of what was unlawfully charged to the card. Second, this insurance is expensive, and it only covers a limited number of issues that can be easily prevented or monitored by the credit card holder. Carefully checking monthly credit card statements and free copies of credit reports can help a person be their own best source of protection.
