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The law does limit liability to $50 if you report the incident within 60 or 90 days (can't remember which). Besides, most credit card companies will waive it all if you alert them quickly enough and cooperate: they are only too happy to stop a thief's spending spree earlier rather than later.
I have started shredding everything that I get in the mail that has financial information (such as those checks that credit card companies send you in an attempt to get you to take a cash advance at exorbitant rates). When you can get a shredder for less than $20 it is cheap insurance. That, and I mail things from post offices. I live in an apartment, and it is only too easier for the unscrupulous to go through the "outgoing mail box" and take whatever they want without anybody being the wiser.
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