Sail on insurance

A large number of us may be victims of identity theft. A lot of us may have lost our credit cards and found that someone has used it without our knowledge. The number of such victims is rising according to studies. Credit cards and debit card numbers are the most common things to lose to an identity thief. Online scams like “phishing” or old methods like “dumpster diving” are used to rob someone of his identity. Insurance may cover identity theft. Some companies provide this protection at no extra cost. Your property insurance may cover theft. However, for some other company you may need to purchase the policy separately.

Here are top 10 tips to avoid identity theft:

1. Avoid keeping too much personal information with yourself. Additional credit cards, your social security number or passport must not be carried with you unless it is absolutely necessary.
2. Make sure to collect your credit card or ATM receipts and do not dispose them in public trash containers. Even if you do, make sure to tear them to bits. Do not put them in public counters or in shopping bags from where they might fall off easily.
3. When purchasing something guard your credit cards properly. Shield with your hands when entering the access code for your ATM card or when you make calls. Someone may be peeping over your shoulders. SO be careful.
4. Avoid giving out personal information, whether on phone or over the internet. Personal information should not be given out unless you are sure of whom you are interacting with.
5. If you are shopping online, be careful of where you are giving out your credit card details. Buy only from a reputable dealer.
6. Do not fall prey into email scams where thieves may use email enquiries pretending to be from financial or any other organization. Do not reveal any personal financial information to people who pose like this.
7. Be wary of any suspicious activity in your account. Do not wait for any warning from your credit card company. Keep checking your account and monitor the transactions carefully. Call your credit card company as soon as you suspect a problem.
8. Ask for your copy of credit report. You may order a copy of credit report from each of the 3 recognized credit bureaus. Your credit report contains information of where you work, your address, the credit accounts in your name, your mode of payment, and whether you have been charged of any fraud or bankruptcy. Make sure no unnecessary person gets hold of it.
9. When assigning passwords, avoid using easily available information like your mother’s maiden name, date of birth and phone numbers. Change your password as soon as you suspect a problem with your credit card.
10. If you have to dispose any document that contains your personal details then shred the document before disposing them.