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July 2014

Protect Your Finances and Your Reputation from Credit Card Theft

With the fresh memory of credit card breaches at a few major retailers during last year’s holiday season, you may be wondering how best to protect yourself from identity theft. After all, if it can happen at Target and Neiman Marcus, it can probably happen anywhere.

Steps you can take:
  • Know where your credit cards are at all times — and report any lost or stolen.
  • Check your credit report annually. If there is a sudden drop in your score, this is cause for suspicion.
credit cards
  • Choose strong passwords for your online accounts. Use a mixture of lowercase and capital letters, numbers, and symbols, and avoid words that are easy to guess (“password123” is not a good password).
  • When you have a choice, run debit card purchases as credit — fraud claims will be less likely to get declined, as there are more protections for credit cards.
If identity theft does occur, contact the police to file a report. Inform your credit card company and/or bank of the breach, and place a fraud alert on your credit file.

Finally, make sure you are covered for identity theft. Even after taking precautions, there is always some level of risk when using a credit or debit card. While many companies include identity theft coverage within certain policies, others charge separately for it.

Contact Us to Add Credit Theft Insurance


Children Going Off to College?
You Could Save on Car Insurance

If your college student doesn’t plan to take a car to school, they’ll be driving your car a lot less than when they were living at home. Don’t take them completely off your policy, because they will probably want to drive when they’re home for break — or may want to borrow a friend’s car while on campus.

notebook Depending on your policy, you could save by switching them from a “primary” driver to an “occasional” driver on your insurance plan, or by taking advantage of a “distant student discount” for any of your kids attending college far from home. If these don’t apply, your son or daughter may be eligible for a “good student discount.”

If you have a child leaving for college, give us a call at Mavco and let us know.
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Mavco is an independent insurance agency located in Hinsdale, Illinois. We provide personal and business insurance solutions, and specialize in supporting the complex needs of high net worth individuals and their families.

Meet the Mavco team. We offer a level of care and attention that cannot be matched.