Some of the products on the market offering consumers protection against identity theft offer "dubious value for money" according to a price comparison website.

Moneysupermarket.com has warned anyone thinking of taking out such a policy to check exactly what level of cover was being offered.

This follows news yesterday that Her Majesty's Revenue and Customs (HMRC) has lost two computer discs containing the personal information of up to 25 million people.

Peter Gerrard, head of insurance research at moneysupermarket.com, said consumers could protect themselves by remaining vigilant.

"Many of these products are dubious value for money," Mr Gerrard said. "Most will cover losses if fraudulent transactions take place.

"However, if consumers are vigilant and report any unusual activity to their bank or card provider these losses will be covered by the provider as a matter of course anyway," he added.

The HMRC said a junior member of staff breached its own security protocols by sending the two computer discs in the post to the National Audit Office.

The discs never arrived and they are yet to be recovered.

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