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If you are a Verizon customer, and your Verizon phone is stolen, the moment you report the theft to Verizon the phone will be flagged so that the ESN becomes bad. The thief will not be able to use your phone on the Verizon network nor cause regular charges against your account once the phone is reported stolen. If the thief sells the phone, any potential buyer will not be able to activate the phone on the Verizon network. If you are a Verizon customer and your Verizon phone is stolen, the moment you report the theft to Verizon the phone will be flagged so that the ESN becomes bad. The thief will not be able to use your phone on the Verizon network nor cause regular charges against your account once the phone is reported stolen. If the thief sells the phone, any potential buyer will not be able to activate the phone on the Verizon network.