Car insurance, health insurance, homeowners insurance — there are plenty of protections people prioritize to save money and headaches in case of an incident. But for retirees, experts say there’s another type of insurance that might also be good to have in some cases: identity theft insurance.
Why? If you’re retired and become a victim of identity theft, you could have more to lose and less time to recover from a financial thumping.
Roughly half a million incidents of identity theft were reported in the third quarter of 2025, according to the Federal Trade Commission. And according to SeniorLiving.org, which parsed FBI data from 2023, people older than 60 accounted for 24.08% of identity theft claims but 41.46% of total financial losses.
That doesn’t necessarily mean that if you’re retired, you should immediately call your insurance broker and buy identity theft insurance. But you may want to at least consider it. Here’s what to know, according to experts:
Identity theft insurance can potentially save you a lot of money.
