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Do You Need ID Theft Insurance?

Do You Need ID Theft Insurance?

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(KSL News) -- Identity theft is in the news everyday. But do you need insurance to protect yourself?

Sharon Stone, not the movie star, has been fighting identify theft for six years. She's had to turn to a lawyer to get her good name back. Since 1999, someone had been charging hundreds of dollars on different accounts to her name. It was so bad, that when her job transferred her to Washington D-C, she couldn't even rent an apartment.

Sharon Stone, Identity Theft Victim: "It feels like you've been attacked.. Like you've been violated."

Sonya Smith-Valentine, Attorney: "I've got clients who have spent hundreds of hours. They've been fighting for years."

Several companies sell insurance, which can cost from 40 dollars to thousands of dollars a year.

But the Federal Trade Commission says the majority of identity theft victims can restore their identities themselves with minimal time and cost.

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