Identity IQ Review

IdentityIQ (www.identityiq.com) is a service of the First Advantage Corporation, Poway, California which is now owned by CoreLogic based in Santa Ana, California.

IdentityIQ is a credit monitoring service. For $29.99 per month, IdentityIQ will provide you with a quarterly credit report from all three credit reporting agencies, monitor your reports for daily changes, provide you with assistance in replacing the contents of a lost wallet, opting out of pre-approved credit mailing lists, setting a credit score goal and tracking your progress, and monitoring your checking accounts for unusual activity.

IdentityIQ offers a lower-cost alternative at $15.00 per month. With this level of service, you get a credit report from Experian only, daily monitoring for Experian, $25,000 ID theft insurance and a Lost Wallet Form upon which you can list the contents of your wallet. IdentityIQ will track your progress toward your credit score goal and will monitor your checking accounts for abnormal alerts and activities.

$1 Million Insurance – If you opt for the $29.99 per month service, you will be covered by a one-million dollar insurance policy. Issued by AIG, this policy will reimburse you for losses incurred because of an identity theft event. Lost wages, fees and legal expenses are covered (losses to self-employment income is not covered). This policy also covers losses due to the unauthorized electronic funds transfer.

Credit Report Monitoring as ID Protection – The FTC stated that in 2009 only 17% of identity fraud was credit-related. While credit report monitoring is certainly a good idea and a great place to start, if you are concerned about a comprehensive strategy for protecting your personally identifiable information, you may want to consider supplementing IdentityIQ’s services with an Internet monitoring and medical records monitoring solution.