How We Rank

Identity theft has become a common feature in the modern environment where personal information is stored in highly accessible and manipulated chips and cards. This form of offence may result in victims suffering severe consequences when held responsible for actions done by perpetrators who use stolen identities to pose as real owners. Fortunately, there are ID theft protection companies that not only secure/protect one’s identification information from being stolen, but are also quick in recovery. When looking for an ID theft protection company, there are certain considerations that should guide you in order to make an informed decision. These are the same factors that guide how we rank the companies and include insurance, customer service and remuneration rates. The company needs to guarantee maximum protection and insurance in case of any unfortunate event as well as initiating fast track, recovery and possible arrest of the criminals.

The overall score adds up to 100% and each explained category evaluated represents a given portion of the ranking as follows:

Price: 10% of overall score

Monetary value is a constant aspect that features in many service provisions since it addresses the issue of exchange and quality. Different companies have varying prices and we compare the overall services provided against the prices charged. The highest exhibition of value for money earns a score of up to 10%.

Availability of provided attorneys: 10% of overall score

ID theft cases may require the client to have legal protection which calls for a legal representative in the form of an attorney. Although most clients can secure their own, the protection company needs to provide expert attorneys who are experienced in fraud reports procedures and initiation of legal protection. The option for receiving an expert attorney from the company offering ID theft protection forms a key component customer service as well as our ranking.

Insurance: 7% of overall score

As an identity theft victim, the insurance cover will dictate to what level compensations can be made. Different companies offer varied policies on their insurance covers and before contracting those services, it is important to ensure the losses incurred in case of theft will be satisfactorily covered. BIDTC offers several insurance insights and information that helps clients establish the boundaries of insurance covers and the maximum compensations available. Our ranking is guided by evaluation of the insurance types, installments paid, providers, amount given and swiftness in claim procedures and awarding.

Identity Protection: 9% of overall score

This is the main service that customers seek and forms an integral ranking factor. The ID theft companies should ensure they carry out maximum credit monitoring and scanning of internet operations to ensure there is no risk of data theft from any imposed software or user. They should also have authority to order credit freezes, fraud alerts and opt outs for the victims while tracking is ongoing. Analytical systems should also form a vital protection element and based on these methods, we identify how effectively these companies ensure ID theft protection. The companies using all the listed forms in guaranteeing protection can accumulate a score of up to 9% under this category.

Identity Recovery: 14% of overall score

Id theft protection definitely includes recovery, which essentially forms the substitute core service offered. The company should display high flexibility and provision of expert professionals who can handle fraudulent issues to help recovery and restoration of stolen identity. Recovery comprises several types of fraud, including medical, banking, taxing and criminal. The company should be able to advise appropriately on the right procedures that will be taken to recover losses whether monetary or reputation. Their effectiveness in achieving this is what we evaluate and give the appropriate rank.

BBB Rating: 4% of overall score

The BBB rating is a key component in consumer analysis and therefore provides a select basis for ranking ID theft companies. Although it may seem biased, the reviews and rating is based on real analysis of the industry situation as a holistic rating approach.

Credit Monitoring: 2% of overall score

Although this falls under protection, it is important to analyze it differently since credit cards contain key personal information that are prone to theft. ID theft protection companies should have a well established relationship with all the three bureaus that evaluate credit information and publish reports. This helps in monitoring and issuing warnings in case of suspicions or when the client seems more susceptible to ID theft. Some companies only monitor from one bureau which may be insufficient and for this reason, we use credit monitoring as a separate ranking entity.

Experience: 4% of overall score

It is a factual assumption that from experience, companies learn where weaknesses exist and are therefore more likely to develop and strengthen their service. ID theft protection companies that have experience in the business and have dealt with many cases are therefore best suited to offer the service. This however does not necessarily mean a higher score. Our ranking is guided by the number of cases solved and the trend arising from each subsequent case to identify whether the experience is used to improve services and ensure better protection. Experience can also be used to measure credibility of service, although this industry is yet to get through introductory phase.

User Rating: 15% of overall score

Besides all the processes in place that ensure protection, the best way to establish if the clients are actually served as claimed is through user rating and review. This comprises evaluating comments, opinions, complains, suggestion referrals among other data that express clients level of satisfaction or dissatisfaction. Previous and current users offer efficient medium to assess whether these companies are directed towards protection from ID theft or profit rooted. Therefore, this forms an integral element in how we rank and adds up to a maximum of 15%.

Expert Review: 25% of overall score

This forms a grand evaluation basis where experts analyze the entire operations of companies offering ID theft protection. Expert reviews are very important since they include unknown insights that reflect on the company’s dependability to provide high quality services as opposed to greed for profits. Some considerations reviewed here include financial standing, staff professionalism, previous records, customer service and lawsuits among many others. Based on these, the company can be evaluated and the highest rank attained under this category constitutes 25%.

The above categories formulate the basis for which we rank id theft companies.