Question regarding cancelation of wireless contract and signing a new one

Hi,  I have a question regarding my contract. My Cell was stolen 2 days ago ( Iphone 5)  had it for about year and 2 months. now I have a dilemma when it comes on getting a new device. the rep told me she can offer me some S... phones for over $200 as a replacement or I to look up Amazon; Ebay and craiglist. I also don't want to pay a retail price for a brand new device. So I was thinking of cancelation of this contract paying the fee and signing up a new contract with a new device like Iphone 5s or Samsung Galaxy. My question is, are there any waiting periods for doing such a thing, or I could do it at the same time, ditch old contract and sign for new one.

    I really want to take a closer look at your options, Filip.M. We definitely wouldn't want to see you cancelling out all the great history you have with us already. I have sent you a follow request here in the forum. Please access https://community.verizonwireless.com/actions to accept my request and follow me back so you can send me a private message with your name and mobile number so we can get started.
Thank you
JenniferH_VZW
Please follow us on Twitter @vzwsupport

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