Do you need Fraud Insurance?
No you don’t.
An entire industry has been built up selling us the fear of identity fraud and the risks associated with them.
Businesses and insurance companies are now trying to sell us insurance to help protect us against it!
In some ways these companies are almost, although not quite, as bad as the fraudsters themselves – they target their campaigns on high value individuals and provide no or little service at all.
Most non-high net worth individuals don’t need to pay for these expensive insurance policies; while identity fraud is a hassle, you'll find that you are usually covered by the banks unless you're culpable.
That said, if you want to ensure that you are covered, and premiums tend to be low, then go ahead!
Also look at other providers - Capital One for example have identity theft protection built into their Credit Card!