Studies have shown that more Americans are worried about identity theft than anything else in their life. Since identity theft has become so commonplace, nowadays more people are looking into identity theft insurance. This insurance comes at a very reasonable cost, and can help to protect you from many of the costs that commonly come up when a person is stricken with identity theft. Depending on the individual policy’s coverage, identity theft insurance can cover legal fees and lost wages, up to $500 each week for a month. A good policy will help you to get your credit record straightened out, and erase the incorrect entries. The best policies will repay you and your family for any money taken from you by the thief. You can purchase identity theft insurance as a stand-alone policy, from the company where you have a homeowner’s or renter’s insurance policy, or through one of your credit cards, such as MasterCard or Visa.