It will take a little more than your name and address to commit identity fraud - otherwise every postal employee in the country would be doing it!!!
You should be more worried about financial documents you throw in your bin or things in the real world with your address on!! You should be worried where you using your card, passport, driving license etc.
I don't think ID Protect is a necessary part of having a domain, it seems to put across paranoia in my opinion.....
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