Is Identity Theft Protection Worth It in 2024? Only in These Cases

How Bad Is Identity Theft in 2024? 

Identity theft protection services can help you monitor your sensitive information and accounts, warn you if your identity has been stolen, and navigate the recovery process — but unfortunately, these services can't do much to stop your identity from being stolen in the first place.

That’s because every year, billions of pieces of personal data are leaked. For example, a recent massive data breach at National Public Data exposed over 272 million Social Security numbers (SSNs) [*].

As one former identity thief explained to The New York Times [*]: 

“The reason that people aren’t being victimized is because there simply aren’t enough criminals to take advantage of all the information that’s out there.” 

So, if your data is probably already exposed, do you still need identity theft protection services? The answer is (frustratingly) sometimes. 

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The 5 Scenarios in Which You Should Buy Identity Theft Protection

The best identity theft protection services do more than just alert you if your data has been leaked — they provide 24/7 support, insurance to cover eligible losses and costs associated with identity theft, and tools to minimize your online footprint, protect your privacy, and make you a less vulnerable target for identity thieves. 

This is important, because nearly 70% of identity theft victims are repeat victims [*]. If your data is already out there, it could be used over and over by criminals. 

You should consider signing up for ID theft protection if you:

1. Have already been a victim of identity theft or were part of a recent data breach.
2. Are unable or unwilling to freeze your credit (due to an upcoming large purchase or loan application).
3. Want the peace of mind that identity theft insurance coverage offers for larger assets (including investments or even home equity) and don’t have coverage through your work benefits or other insurance policies.
4. Take care of young children or elderly family members who are more vulnerable to attacks (and less likely to closely monitor their accounts and credit).
5. Have a large online footprint and are worried about hackers accessing your accounts.

In all of these cases, identity theft protection is a valuable tool. If you don’t feel like you fall into one of these categories, it’s up to you to decide if you need the extra security that identity theft protection provides. 

What Does Identity Theft Protection Do?

Traditionally, identity theft protection services only performed three main functions: 

1. Personal data monitoring. Checking for signs of fraud involving your personally identifiable information (PII), such as your credit file, Social Security number (SSN), and driver's license.
2. Alerts. Providers send you notifications of suspicious activity, allowing you to secure your credit file and accounts. Unfortunately, not all providers alert you fast enough to prevent identity theft.
3. Support. Once you become a victim of identity theft, providers help you through the recovery process. Most also include insurance policies to cover eligible losses and expenses resulting from fraud. 

More recently, identity theft protection plans have moved from providing purely reactive to more proactive services that attempt to reduce your exposure to scams and data theft. Some of the key features for this include Safe Browsing tools to protect against phishing attacks, antivirus software, and virtual private networks (VPN) to guard your data whenever you’re online. 

While the level of protection varies by provider, most of the top identity theft protection packages now include a combination of the following tools and features:

• Identity monitoring. Services look for misuse of your personal information across criminal and court records, home title changes and other public records, USPS change-of-address requests, and more.  
• Dark Web and data breach alerts. Notifies you if your sensitive information leaks in a data breach or is found for sale on the Dark Web.
• Credit monitoring (one or three bureau). Checks for unauthorized changes and suspicious activity on your credit file with either one, two, or all three of the major credit bureaus (Experian, Equifax, and TransUnion), including altered information, new accounts, and credit inquiries.  
• Transaction and financial fraud alerts. Informs you of credit card fraud and unauthorized transactions in your financial accounts, including your bank and investment accounts. 
• Device security (antivirus, VPN, Safe Browsing, etc.). Software and network tools that protect your devices and data from malware, hackers, and malicious websites. 
• Password manager. A tool that helps you create and store complex and unique passwords for your online accounts.
• Identity restoration services. Access to guidance and fraud specialists that help you dispute fraudulent activity, recover lost documents, and work with creditors. 
• Identity theft insurance (typically $1 million or more). Coverage and reimbursement for costs associated with identity fraud, such as legal fees, lost wages, and stolen funds. 

What about family protection? You’ll also see many providers offering family identity theft protection and parental controls. This can include child SSN and credit monitoring, screen time limits, cyberbullying and online predator alerts, and more. 

📚 Related: 8 Reasons Why It's Important To Have Identity Theft Protection →

How Much Does Identity Theft Protection Cost?

The price of identity theft protection varies by provider and the level of protection. Here’s what some of the most popular entry-level packages cost:

• Aura: Starts at $12/month (or $6/month for a limited time)
• Identity Guard: Starts at $6.67/month
• LifeLock: Starts at $7.50/month
• IDShield: Starts at $14.95/month
• IdentityForce: Starts at $19.90/month
• ID Watchdog: Starts at $14.95/month

Dedicated identity theft protection providers are only one option. You might also be able to get protection from:

• Insurance providers. Some insurance companies — like Chubb and Farm Bureau Insurance — offer free identity theft protection services for homeowners and policyholders. 
• Banks and credit unions. Certain banks and credit unions — like Altra Federal Credit Union and Firefighters Credit Union — provide account holders with identity protection and restoration services. 
• Employee benefits. Some of the more progressive companies offer identity theft protection and insurance as part of their employee benefits program. 
• Breached companies. When your data leaks in a breach, the affected company may offer you free identity theft protection for a limited time. For example, AT&T offered customers one year of free identity theft protection and $1 million in insurance coverage after its historic 2024 data breach [*].  

What You Can Do on Your Own

Over the last few years, many news outlets [*] and cybersecurity experts have argued that you don't need to pay for identity theft protection — and they may be right. 

The truth is, you can handle the basics of identity theft protection yourself. 

For example, you can:

• Freeze your credit with all three bureaus. A credit freeze with each of the major credit bureaus (TransUnion, Equifax, and Experian) blocks anyone from accessing your credit file. This includes lenders, fraudsters, and even you.
• Get free credit reports and check for signs of fraud. Every American is entitled to one free weekly credit report from all three bureaus at AnnualCreditReport.com. You can review your file weekly and look for unfamiliar account numbers or hard inquiries. 
• Regularly check your bank statements. Carefully inspect your bank account statements for signs of fraud, such as unauthorized transactions and changes to your personal information. Some banks also offer additional fraud alerts and security measures to warn you of suspicious activity. 
• Sign up for data breach notifications. Get free alerts about major data breaches from the Identity Theft Resource Center or HaveIBeenPwned.
• Enable additional security measures such as 2FA. Set up two- or multi-factor authentication on every account that allows it — this puts an extra obstacle in the way of fraudsters seeking to access your accounts. 
• Use public resources for reporting and recovering from ID theft. Report all types of identity theft to the Federal Trade Commission (FTC) at IdentityTheft.gov and receive a personalized recovery plan if you become a victim.

Here’s the bottom line: While you can take measures to protect your identity, most people don’t have the time or energy to do it properly. The relatively low monthly cost of identity theft protection can free up hours of your time each month — and keep you safer than if you were to do this all on your own. 

📚 Related: How Long Does It Take To Recover From Identity Theft? →

How To Choose an Identity Theft Protection Service: 6 Options

If you decide to pay for identity theft protection, you need to figure out what level of security and monitoring you want. 

Many services offer different plan tiers and prices, but they usually only include the most valuable features — such as three-bureau credit monitoring, identity theft insurance, and digital security — in their highest-priced plans. 

You should also pay attention to the service's ease of use, as you could find yourself juggling multiple, complex apps that complicate your online safety if you're not careful.  

Here are some of the best identity theft protection services available to you. 

1. Aura individual plans

Aura offers comprehensive identity theft and credit monitoring services, digital security, and extensive support for users at some of the lowest prices in the industry.  

While Aura is a relatively new player in the market, it has already been rated the #1 identity theft protection service by TechRadar, USNews.com, Forbes, Security.org, and others. Aura also has one of the highest user ratings out of all of the listed services, earning 4.6 stars on third-party review site Trustpilot.

Some of Aura’s standout features include:

• Three-bureau credit monitoring with the industry’s fastest fraud alerts³
• Identity monitoring across the Dark Web, data breaches, public records, and more
• AI-powered unusual transaction monitoring on all linked bank and financial accounts
• Digital security for all of your devices (including antivirus, VPN, and a password manager)
• 24/7 U.S.-based support, and up to $5 million in identity theft insurance
• 60-day money-back guarantee on all annual plans

Aura also offers one of the best family safety plans — with parental controls, screen time limits, cyberbullying alerts, and child identity monitoring. Family plans cover up to five adults and unlimited children.

Cost: $12/month (individual plans) and $20/month (family plans)

What you need to know: Not only does Aura provide some of the best protection in the industry — every Aura plan includes the same powerful features (unlike most competitors that hold back critical features, such as three-bureau credit monitoring, for their most expensive plans). All you need to do is decide how many people you want to protect. 

💪 Ready to get started? Sign up for your free 14-day Aura trial today →

2. Identity Guard Ultra

For over 25 years, Identity Guard has helped protect over 38 million people from identity theft and fraud. Recently, Identity Guard and Aura joined forces to provide robust and user-friendly identity theft protection to even more people. Unlike Aura, however, Identity Guard offers some basic introductory plans at a lower price point (starting at $6.67/month).

With Identity Guard Ultra, you get the support of a trusted brand name, as well as some of the strongest identity theft protection in the industry. 

Some of Identity Guard’s Ultra plan’s standout features include: 

• Dark Web monitoring and data breach notifications
• Three-bureau credit monitoring with monthly credit score updates
• Social media monitoring plus a personalized Social Insight Report
• U.S.-based customer care team, plus up to $1 million in identity theft insurance
• Safe Browsing tools and a basic password manager

Cost: $17.99/month (individual) and $23.99/month (family)

What you need to know: Identity Guard excels at identity and credit protection. However, its limited digital security tools mean less proactive protection against identity theft (especially when compared to some of the more popular Identity Guard alternatives).

📚 Related: Identity Guard vs. LifeLock: What To Know Before You Choose →

3. LifeLock Ultimate Plus with Norton 360

LifeLock is one of the biggest names in the identity theft protection industry. After being acquired by Symantec (the makers of Norton), LifeLock added digital security to its extensive list of add-ons — for a price. 

LifeLock’s top plan — Ultimate Plus with Norton 360 — offers many of the same features included in Aura’s all-in-one plans, but at a much higher price point. 

Some of LifeLock’s Ultimate Plus plan’s standout features include: 

• Three-bureau credit monitoring, monthly credit reports, PayDay loan alerts, and TransUnion credit file lock
• Phone takeover and social media monitoring
• Up to $3 million in identity theft insurance (but limited to $1 million in stolen funds reimbursement) 
• Norton 360 digital security, including antivirus, VPN, “SafeCam” and cloud backup for Windows devices
• Priority 24/7 live member support

Cost: Individual plans start at $25/month (paid annually) but increase to over $30/month after your first year. Family plans can cost upwards of $819.99/year after your first year discount expires. (You can learn more about LifeLock's complicated pricing here).

What you need to know: LifeLock offers a dizzying array of plans and add-ons, all with different features, levels of protection, and insurance coverage. Discounted prices are only valid for your first year as a customer — after that, you’ll pay anywhere from 30–50+% more for the same plan. 

Also, beware of the fact that LifeLock has suffered several data security issues in recent years — for example, nearly one million users had their passwords compromised in early 2023 [*], and LifeLock had to pay over $100 million in FTC fines for deceptive marketing practices and failing to protect user data [*]. 

📚 Related: Aura vs. LifeLock: Which Is Right For You? →

4. ID Shield Three-Bureau Credit Monitoring 

A product of the long-standing legal company, LegalShield, IDShield has more than 50 years of legal experience behind it. While ID Shield offers an all-in-one identity theft protection plan, it really emphasizes full-service restoration — giving considerable support to identity theft victims including access to private investigators to help users restore their identities. 

Some of IDShield’s standout features include: 

• Standard identity monitoring — including SSN, Dark Web, public records, and address change monitoring
• Three-bureau credit monitoring (for a monthly premium — the basic plans include just Experian credit file monitoring)
• Up to $3 million in identity theft insurance coverage for stolen funds
• Access to private investigators to help reduce solicitations and restore victims’ identities
• 30-day free trial

Cost: Plans with three-bureau credit monitoring start at $19.95/month (individual) and $34.95/month (family)

What you need to know: IDShield is a solid option for all-in-one protection — but it comes at a higher cost than other services like Aura (and without the same level of protection). For families, however, IDShield may be too expensive and offers limited protection with no parental controls.

5. IdentityForce UltraSecure+Credit

With nearly two decades of experience and the backing of TransUnion, IdentityForce is one of the most reputable identity theft protection services out there. With its top plan, IdentityForce users receive identity monitoring, insurance coverage for financial losses, and identity recovery services. 

Some of IdentityForce UltraSecure+Credit’s standout features include: 

• Dark Web and fraud monitoring
• Three-bureau credit monitoring with quarterly credit reports
• Anti-malware and phishing protection, plus a VPN
• Up to $2 million in insurance coverage
• Access to dedicated identity restoration specialists and a personalized action plan

Cost: $34.90/month (individual) and $39.90/month (family)

What you need to know: IdentityForce offers a 30-day free trial but only for its basic plan. If you want to test out the credit monitoring plan, you will need to sign up at full price. 

📚 Related: IdentityForce vs. LifeLock — Which One Is Right For You? →

6. ID Watchdog Premium

Owned by Equifax, ID Watchdog offers an identity theft protection service that includes advanced financial and credit monitoring and digital security tools. The service also provides family protection features on its family plans. 

Some of ID Watchdog Premium’s standout features include: 

• Multi-bureau credit lock (TransUnion and Equifax)
• Identity monitoring, including national provider ID alerts
• Three-bureau credit monitoring, reports, and credit scores
• Digital security from Bitdefender (antivirus, VPN, and Safe Browsing tools)
• Up to $2 million in identity theft insurance, including 401(k)/HSA stolen fund reimbursements 

Cost: $21.95/month (individual) and $34.95/month (family)

What you need to know: ID Watchdog offers generous insurance coverage across its plans, but you might think twice about sending Equifax more personal information as the company is still making settlement payments from a data breach that revealed nearly 150 million user records [*]. 

The Pros and Cons of Paying for Identity Theft Protection

Identity theft protection services take over the responsibility of securing and monitoring your identity, credit, and accounts. For people who don't have the time, ability, or desire to do this for themselves, these services make perfect sense. 

For many others, identity theft protection might not be worth the extra cost. If you're unsure what group you fall into, try out Aura's no-strings-attached free trial today. 

See if identity theft protection is right for you. Try Aura for 14-days free.