Changing your passwords would be just as effective. No need to close email accounts. Sorry to hear about your bad day, though.That's a real shame..... sorry to hear of your misfortunes.
If you had any personal data on there I would look for ways to minimize damage there. Like, if your email was setup to access your account, I would maybe consider switching to another account and closing that one. All sorts of valuable information can be obtained through your email. It's such a drag to do that though, especially with an established address, so hopefully you won't have to go there.
You know, I'm not sure if one could restore it from iTunes...If you had your phone locked can someone still get into it by connecting to a pc or mac?
BTW Sorry to hear that.