What to Do If Your Wallet is Lost or Stolen
Your quick guide to making this stressful event a bit less nerve-wracking.
Most people keep their whole lives in their wallet—credit cards, debit cards, driver’s license, photos, and sometimes even house keys. So losing it can feel pretty stressful. But knowing what to do can help you feel more in control.
Here’s what to do if your wallet goes missing.
6 things to do once you realize your wallet is missing
1. Retrace your steps
First things first—go back through everywhere you’ve been. It might still be sitting on that coffee shop counter.
2. Cancel debit cards
If you can’t find it, call your bank right away to cancel your debit cards. The faster you report it, the better—most banks won’t charge you for fraudulent purchases if you report within two days. Identity theft is no joke: the FTC logged more than 1.1 million identity theft reports and about 2.6 million fraud cases in 2024, with total losses exceeding $12.7 billion, per Experian.
3. Cancel credit cards
Next up: your credit cards. Call each provider and let them know what happened. You’ll only be on the hook for about $50 in fraudulent charges. They’ll send you new cards. Credit card theft was actually the biggest category in 2024, with 449,076 complaints, according to Experian.
Here are the numbers for the big credit card companies:
- American Express: 1-800-992-3404
- Visa: 1-800-847-2911
- MasterCard: 1-800-627-8372
- Discover: 1-800-347-2683
4. Set up fraud alerts
Call one of the three credit bureaus (TransUnion, Experian, or Equifax) to set up fraud alerts—they’ll notify the others. Then file a police report, even if you’re not sure whether it was stolen or just lost. Having that report creates a paper trail that’ll help if someone’s using your identity. Fun fact: Experian reports that email was the most common contact method for fraud in 2024 (371,664 reports), but phone calls had the highest median loss at $1,500.
5. If you need one, get a new Social Security number
If your Social Security card was in there, contact the Social Security Administration for a replacement number. Also keep an eye on your credit reports to make sure no one’s opening accounts in your name.
6. Get a new driver’s license
Finally, hit the DMV for a new license. It’s a pain, but you need it to drive legally. And if you kept house keys in your wallet, definitely change those locks.
What to know about renters insurance and a stolen wallet
Bad news: renters insurance won’t cover a lost wallet—that’s considered carelessness, not theft.
Good news: renters insurance does cover theft. So if your wallet was actually stolen, even away from home, you can file a claim.
Renters insurance covers stolen cash up to $200. Why the limit? Because if we covered unlimited cash, people would claim someone stole $10,000 in hopes of a quick payout. But if your backpack with laptop, phone, and cash gets stolen, you’d claim it all together and subtract your deductible from the total.
Here’s something cool: if your wallet gets stolen and the thief uses your credit card, Lemonade will cover any charges you’re responsible for up to $500—and there’s no deductible for this coverage.
Read more about how renters insurance handles theft.
7-step guide to filing a claim for a stolen wallet
If your wallet was stolen, here’s how to file a claim.
1. Open the Lemonade app
Open the app and hit the claim button in the top-right corner.
2. Answer questions from AI Jim
AI Jim will verify your identity and ask about what happened.
3. Sign Lemonade’s Pledge of Honor
You’ll sign a digital pledge confirming everything you’re telling us is true.
4. Describe the theft in a brief video
Record a short video explaining what happened. It’s completely confidential and only used to review your claim.
5. Provide your police report.
Upload your police report. A police report is required for theft claims. If you didn’t get a copy when you filed it, most police departments let you download one from their website.
6. Prove your ownership
List what was stolen, its value, and provide proof you owned it—receipts work great. If you don’t have receipts, don’t worry, we’ll follow up with other options.
7. Verify the details of your claim
Review your claim summary to make sure everything’s right, then add your bank details for payment.
FAQs
How can I track my lost wallet?
A Bluetooth tracker like a Tile Slim is great for preventing future wallet loss. It links to an app that shows your wallet’s location—though it won’t help if it’s already gone.
How can I protect myself from identity theft after my wallet has been stolen?
After canceling cards and replacing IDs, change all your passwords to secure your other accounts. Consider signing up for identity theft protection like LifeLock or IdentityIQ—they’ll streamline the process if this happens again.
If my wallet is stolen and used to commit identity theft, does renters insurance cover the expenses associated with resolving identity theft issues?
Yes, generally. Renters insurance covers up to $500 in fees from unauthorized credit card use, with no deductible. Exception: if someone in your family steals your card, that’s not covered. Your policy also covers the cost of replacing IDs like your driver’s license or passport, after your deductible.
Some final words of advice
Theft can happen anywhere, to anyone. But here are some ways to make it less stressful if it happens to you.
Keep some contact info in your wallet—your name and phone number (but not your address)—so good people can return it if found.
Don’t carry your Social Security card in your wallet. Keep it safe at home. And never, ever store a list of passwords in there.
Only carry one or two cards. That way you’ll only need to call a couple providers instead of your entire wallet’s worth.
Finally, never keep house keys in your wallet. Your address is easy to find online, making it risky if keys fall into the wrong hands. Keys belong on a keyring in your pocket or a zipped bag compartment.
Hopefully this never happens to you. But if it does, now you know what to do. And if you get Lemonade renters insurance, you’ll know you’re covered for wallet theft, whether you’re at home or anywhere in the world.
A few quick words, because we <3 our lawyers: This post is general in nature, and any statement in it doesn’t alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. You’re encouraged to discuss your specific circumstances with your own professional advisors. The purpose of this post is merely to provide you with info and insights you can use to make such discussions more productive! Naturally, all comments by, or references to, third parties represent their own views, and Lemonade assumes no responsibility for them. Coverage and discounts may not be available in all states.
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