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Have identity thieves stolen my judgment?

By Paul McNamara on Tue, 05/30/06 - 10:55am.

In the realm of scary identity-theft stories, this one in today's New York Times will leave many cowering under the covers … especially those living in Arizona.
According to a survey cited in the article, one in every six Arizona adults has been the victim of identity theft sometime in the past five years. Local law enforcement blames a booming methamphetamine trade. And while I personally question the soundness of that alarming one-in-six statistic, it's certainly fair to say that identity theft continues to climb the chart mapping those property crimes we have come to most fear.
A personal anecdote in support of that last contention: Last week I was on the horn with my insurance agent buying coverage for the new home we are purchasing. Generally speaking, insurance agents who depend on sales to me for making their monthly quotas will fare poorly; I am one of those less is more types.
So when the agent mentioned that I could purchase $15,000 worth of protection against identity theft for a $25 additional premium it surprised me greatly to hear the words "I'll take that" tumbling from my mouth.
Maybe I got ripped off -- that's always my suspicion when buying insurance -- but I had read one too many identity-theft horror stories, and that was before flipping open this morning's New York Times.
Have any thoughts about identify-theft insurance? Please share.