Farmers Insurance Warns: During Economic Upheaval Don't Just Monitor Your Investments

source : www.farmers.com

With economic uncertainly and unprecedented economic upheaval in the country's financial markets, Farmers Insurance Group of Companies(R) warns now is the time to be vigilant and monitor your credit along with your investments.

"There is unprecedented uncertainty concerning institutions that have your personal information from home mortgage payments to credit cards and that is a red flag warning for everyone to monitor their credit reports regularly," explains Jeff Dailey, Farmers President of Personal Lines.

"Everyone is watching their investments, but we all must guard against troubled institutions abandoning identity information that could lead to a lot of unnecessary hardship for individuals already reeling from the economic downturn. Mortgage brokers that have/had your data that are no longer in business; or they are sharing it with institutions that bought them, means it is a good time to order your end of the year credit report."

Dailey offers the following ABCs of protecting your identity.

Always be alert.

• Check your credit report at least yearly and look for any suspicious items.
• Monitor your yearly Social Security Earnings Statement.
• Look over all financial statements and bills at least every month.

Be careful.

• Do not give out personal information over the phone or internet to someone that calls you.
• Do not carry your Social Security card in your purse or wallet.
• Be sure to use and update virus and firewall protection on your computers.

Contact immediately.

• Any creditors that you suspect fraud may have occurred.
• The credit bureaus to report any fraud and place a fraud alert.
• Law enforcement to document the fraud.

"Since Identity Theft is the fastest growing crime in the world today, Farmers insurance has developed comprehensive identity theft coverage. Farmers Identity Shield helps you restore your identity after an identity fraud. Those who have experienced its devastating effects know how hard it is to fix and how much time it takes," Dailey added.

Dailey explained that Identity Shield includes a 24/7 advocate to guide and assist victims. An expert also is on call to answer any questions policyholders may have about children or adult identity theft. "There is much more, including assistance in replacing lost, stolen or damaged identification documents and prevention tips," Dailey said.

For more information on identity theft and how to prevent it, contact your local Farmers agent