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7 Best Identity Theft Protection Services for Small Businesses

Best Identity Theft Protection Services for Small Businesses

The online world offers many great possibilities but just like it often happens, every great advantage comes with great risks. To enjoy all those marvelous benefits such as online payments and similar tasks that make your life so much easier, it is essential that you know how to effectively protect your identity and other relevant personal data online. That’s exactly where the identity theft protection services kick in.

Identity theft and data breaches are not rare exceptions but real threats that only seem to become more and more serious over time. Even the biggest companies that use very complex security procedures are not immune to ID theft. The number of victims of data breaches and ID thefts is rapidly growing. It seems likely that the recent pandemic circumstances were particularly convenient for hackers and other digital criminals as many people completely switched to doing business online.

If you want to avoid making your personal information such as bank account or ID number vulnerable to suspicious actions, you will want to know more about identity theft protection and monitoring services. In this article, we’ll take a closer look at some of the best companies in this industry. Stay tuned to read more about:

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Why Should You Use an Identity Theft Protection Service?

Why Should You Use an Identity Theft Protection Service

Identity theft is equally devastating for companies regardless of their size. Though it seems like bigger companies with high profits can manage the damage more easily, the fact is that big companies usually involve a large number of people who can all suffer the consequences of data breaches and ID theft. For small companies, an incident like ID theft can easily be the end of the business.

Stealing identity enables cybercriminals to withdraw money from your bank account, steal your website domain, and what may be the worst – it also enables them to commit crimes in your name. The last scenario makes things especially complicated – not only do you have to deal with the lack of funds, but you also have to prove your innocence regarding the crimes you didn’t commit.

All this sounds like a plot of a Hollywood movie, but there is nothing glamorous about cybersecurity, or shall we say cyber insecurity. We are all equally vulnerable to ID theft unless we decide to do something about it. Luckily there are special identity theft protection services that can make your online life a lot safer. Now that you know why and how identity theft protection services can help you, let’s see which one will answer your needs best.

LifeLock

LifeLock

Many know about Lifelock thanks to its uncommon marketing approach when the company’s founder posted his own Social Security number on social media just to state how confident he was about LifeLock’s protection services. Despite this questionable marketing tactic, LifeLock still holds the reputation of a highly reliable identity theft protection service. In 2017 LifeLock was incorporated into the Symantec company. This business move turned out to be a smart one and LifeLock today is one of the identity theft protection tools of choice for many companies.

The services that fall into the scope of LifeLock include a wide array of protection and monitoring options. Stolen wallet protection, credit monitoring, dark web monitoring, ID verification monitoring all fall into the scope of this service. You can also count on SSN & credit alerts, data breach notifications, fictitious identity monitoring, ability to lock your identity, suspicious bank & credit card activity alerts, and many more practical features.

This identity theft protection services provider also offers identity theft protection insurance in amounts that range depending on the plan you choose and the scope of your company.

LifeLock services come in a three-tiered pricing plan, with prices ranging from $9.99/month to $34.99 for the first year. Every Lifelock plan includes an additional layer of protection as it includes a subscription to an antivirus package that protects from computer viruses, phishing, malware, spyware, and similar threats. The company also offers a generous 60-day money-back guarantee policy.

IdentityIQ

IdentityIQ

IdentityIQ is a company from California that’s been operating for more than 10 years in the ID theft industry. Its portfolio of services is based on the most common challenges of identity theft protection. Therefore it concentrates on identity fraud detection through thorough and careful identity and credit monitoring.

Services like dark web monitoring, SSN monitoring, daily credit card report monitoring are all included along with many other benefits like the additional, free VPN protection on up to 10 devices. IdentityIQ will inform you every time your Social Security Number is used, regardless of whether it is used with the right or wrong address or name. Such a thoughtful approach allows you to be alerted even in cases of very sophisticated fraud attempts.

The company also comes with identity theft insurance coverage in the amount of up to $1 million. Excellent customer support and identity restoration service are also a big plus of the IdentityIQ. In case you suffer from ID theft despite all the measures of protection provided by this company, you can rely on their team of case managers to help you recover and design the optimal action plan for you.

As for pricing, you can choose between three pricing plans and two payment options – pay monthly or annually. The prices range from $11.99 to $32.99 per month or, if paid annually, from $143.88 to $395.88 per year.

Aura

Aura

As a relatively new player in the identity theft protection industry, Aura managed to quickly become the first choice for many consumers and companies. From its very start in 2014 to this day, Aura stays loyal to its strong reputation as a trustworthy and efficient company. User-friendliness and a comprehensive scope of services are what made it popular from the beginning.

The reason behind Aura’s reliability is the fact that it collects information from such a wide variety of diverse sources in order to protect your identity. It constantly monitors dark websites, public records, data broker lists, and similar sources checking whether your Social Security number, name, or any other personally-identifying information is found in it. Plus, antivirus software and a VPN also come included in all plans to enhance the protection from malware when you are using online browsers.

ID and personal information monitoring as well as online account monitoring and Social Security number alerts are covered in all plans, even in the basic one. What’s also great is that Aura provides $1 million reimbursements in case ID theft happens despite all the measures of precaution. Aura’s team of professionals is also at your disposal to help you recover from any losses.

Aura comes in three pricing plans, with prices ranging from $19 to $50 a month depending on the level of protection you need. 24/7 customer support and $1 million insurance come with every plan and in case you opt for an annual plan you also get a 60-day money-back guarantee.

ID Watchdog

ID Watchdog

The attractive name of the ID Watchdog company actually stands for a very serious, top-notch identity theft protection and resolution service that has been on the market since 2005. In 2017, one of the biggest credit bureaus Equifax acquired ID Watchdog which has only made the company stronger and more versatile in terms of services.

ID Watchdog provides you with reports from all three major credit reporting agencies but what makes it special is the way they handle cases of ID theft. If you find yourself robbed of your ID online, as a member of the ID Watchdog, you will be assigned a certified ID theft risk management specialist who will provide you with all the help and assistance until your identity gets restored.

ID Watchdog offers all the standard protection services like dark web monitoring, public record monitoring, high-risk transaction monitoring, data breach alerts, and similar. It also comes with $1 million in identity theft insurance.

As for the pricing, two plans are offered, with prices ranging from $14.95 to $21.95 per month. You can also choose between individual and family pricing plans, though it should be noted that ID Watchdog is more often the choice for companies rather than families. It is also worth noting that only the advanced plan offers three-bureau credit report monitoring.

Identity Guard

Identity Guard

Identity Guard started operating back in 1990, just as the world wide web was gaining popularity so enjoys a reputation as one of the most experienced ID theft services. This company understood the importance of identity protection early on and therefore covers all the major aspects of ID theft protection. Its services include but are not limited to theft protection, credit monitoring, identity recovery assistance, and identity theft reimbursement in the amount of up to $1 million.

What makes Identity Guard so efficient is the artificial intelligence the company employs in partnership with IBM® Watson™. AI makes information processing more precise and helps detect data theft more easily. In case of any data breach, Identity Guard alerts you within three seconds providing you with enough time to react and take steps to prevent damage.

Identity Guard can support businesses of all sizes as well as families. It offers three pricing plans and also allows you to choose whether you’ll pay monthly or annually. The prices range from $3.60 per month for individual plans to $12 per month for the Ultra plan.

Identity Force

Identity Force

IdentityForce is a family-owned company that started operating in 2005 and has a reputation for providing excellent anti-phishing technology and a VPN. The company informs you about all kinds of ID threats 24/7, offers three-bureau credit card monitoring and reporting, identity theft insurance in the amount of up to $1 million, assistance and support in case of identity theft, and many more benefits.

If you need a service that can provide more than just business protection, or your business revolves around children, IdentityForce comes with a comprehensive child protection policy, and will also provide notifications in case a registered sex offender moves into your neighborhood.

All of the pricing plans include dark web monitoring, sex offenders list, court records, change of address requests, and many other standard features. You can choose between individual, family, and business pricing plans, where the family plan includes two adult individuals and an unlimited number of children. The prices range from $17.95 to $23.95 per month. There’s also a possibility to create custom plans for child protection or families with specific features included. Yearly payments also come with some discounts.

IDShield

IDShield

Since the majority of ID theft protection services focus on prevention and offer up to $1million in ID theft insurance, IDShield found a way to position itself on the market by offering up to $2million in identity theft reimbursement. This is great for two reasons – the expenses of ID theft can be devastating and it is a huge plus to be able to reimburse them without jeopardizing your business. Second, a company that can offer that amount must be pretty sure of its efficacy in preventing ID theft.

The company service also includes a team of certified private investigators to handle identity fraud and support you 24/7. What’s also an advantage that IDShield offers is that in case ID theft happens, they keep working on the case until they manage to restore all the files and financial damages in total. Other services like credit monitoring, credit reporting from three bureaus, and extensive ID theft protection educational resources also fall within the scope of this company.

As for pricing, IDShield offers two individual and two family pricing plans with prices ranging from $14.95 to $34.95 per month.

In Conclusion

Since no one can guarantee you 100% protection from identity theft and online frauds of all kinds, one of the most important things a good identity theft service needs to offer is identity theft insurance. If your concerns are mostly about being able to handle an ID theft when it happens, IDShield would be a reasonable choice.

All the information related to your bank account is very sensitive and therefore ID theft protection services also include algorithms for scanning your finances for suspicious spending activities. This is important for preventing abuse of your credit cards and other funds. An efficient ID theft service will also include monitoring all the suspicious inquiries on your credit file so that you have the chance to react as soon as any suspicious activity takes place.

If credit monitoring is what matters to you the most, you will probably find IdentityIQ the most appealing. The services we selected for this list also offer advanced options like secure password management, fraud resolution service, and private VPN with encryption and antivirus software. Aura is known for its simplicity of use, Identity Guard is popular for providing fast alerts. The fact is, all the companies in this list are able to provide strong protection from ID theft. Some may answer your needs better than others, but you surely can not make a mistake by choosing any one of them.

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