Identity theft is a blanket term that refers to a broad range of activities involving someone stealing your personal information, like your Social Security number or bank account numbers, and using it to create new accounts, apply for loans, make purchases, lease cars or residences, and even obtain employment. 

Victims of identity theft may lose thousands of dollars before ever suspecting a thing, and once your identity has been stolen, it can take years to close fraudulent accounts, get some of your money back, and fix your credit. 

Between October 2013 and August 2018, South Carolina’s Identity Theft Unit received 1,556 consumer identity theft reports. Financial, tax-related, and benefits-related complaints were the most common. 

Steps to Prevent Identity Theft in South Carolina 

The best way to prevent identity theft is to always protect your personal information. Here are some ways you can do that:

• Keep all of your important financial records secure in your home.
• Secure your Social Security and Medicare cards.
• Shred papers that include any personal, financial, or medical information.  
• Don’t leave mail in your mailbox for long periods of time.
• Don’t give out your Social Security number unless you absolutely have to. 
• Do not give out your personal information (bank account numbers, credit card numbers, Social Security numbers) over the phone or via email.
• Use secure passwords for all online accounts and change them frequently.
• Do not open attachments or respond to unsolicited emails.
• Do not put personal information on a computer in a public place, like a public library.
• Read your credit card and bank statements carefully and often.
• Know your payment due dates. If a bill doesn't show up when you expect it, look into it.
• Read the statements from your health insurance plan. Make sure the claims paid match the care you received.
• Review each of your three credit reports at least once a year to check for fraudulent accounts and activity.

What to Do if You’re a Victim of Identity Theft in South Carolina

Here are some steps you can take if you’re a victim of identity theft in South Carolina: 

• Contact your local police department to file a report. Be sure to get a copy of the report for your record and to assist in clearing up the damage caused by the identity thieves.
• Contact the creditors for any accounts that you think have been corrupted or opened fraudulently. Speak to the fraud or security department to report the theft. 
• Immediately close any existing accounts and only open new ones that are protected by a PIN number or a password. 
• Contact the fraud department of the three major credit bureaus and inform them that you’re a victim of identity theft. They can place a fraud alert on your file. 
• Complete an Identity Theft Intake Form from the South Carolina Department of Consumer Affairs. 

Does Insurance Cover Identity Theft in South Carolina?

A local independent insurance agent can help you assess your need for identity theft protection, or cybercrime insurance, from your personal insurance carrier. 

Personal identity theft insurance is available. It can protect you from some of the costs associated with identity theft and certain other types of cybercrimes, such as the costs of making phone calls, making copies, mailing documents, taking time off from work without pay (lost wages), and hiring an attorney. It likely won’t cover any direct monetary losses.

In addition to identity theft, cybercrime insurance in South Carolina might cover:

• Ransomware attacks and cyber extortion
• Malware attacks
• Phishing scams 
• Attacks that compromise your bank account(s)
• Cyber bullying or Internet stalking

Identity theft insurance may be sold as a stand-alone policy, but for individuals it is more often sold as part of a package or an endorsement to a homeowners insurance policy. Not all home insurance policies or companies cover identity theft. You’ll need to discuss your coverage with an independent insurance agent. 

In some cases, identity theft insurance might be included in your standard home insurance rates. Stand-alone identity theft insurance might cost between $25 and $60 per year, on average, but everyone’s rates will be a little different. 

Identity theft insurance will have policy limits and deductibles just like most other insurance policies. As with any insurance product, you need to understand what you’re buying and compare the price, coverage, and deductibles among multiple insurance companies to make sure you’re making a wise choice.

How Can an Agent Help Me Purchase Identity Theft Insurance in South Carolina?

An independent insurance agent can help you learn about and purchase identity theft insurance in South Carolina. Independent agents aren’t tied down to a single insurance company so they can shop around and get you multiple quotes.