If you have identity theft insurance, what should be your first step?

The first step when you have identity theft insurance is to contact your insurance carrier about coverage. This is crucial because the insurance provider can guide you on the specific steps to take following an identity theft incident. They will inform you about the coverage you have, including what types of expenses may be covered, such as legal fees or lost wages due to the theft, and how to file a claim.

Understanding your insurance policy's provisions can help you navigate the aftermath of identity theft more effectively. The carrier may also provide resources or support services to assist you in rectifying the situation, such as identity restoration services.

Other options may be relevant in different contexts, but they are not the immediate steps to take upon realizing that you have identity theft insurance. For example, notifying family members could be a consideration later if their information is also involved, while canceling financial accounts or filing for bankruptcy are extreme measures that might be taken after assessing the damage but are not the appropriate first response.