Lost Iphone

If you're referring to a version of AppleCare+ which covers that, $149 US.

If you're referring to non-Apple insurance, ask the provider.

(220409)

Do you have Apple Care? If yes, check the details.

Other insurance? Impossible for us to know whether or not your insurance policy might have a deductible and/or whether or not the policy might include full replacement value, or whether the insurance will pay the "market value" of a used phone.

So, let's say a new phone will cost $1,000. You will need to call your insurance agent to find out how much of the $1,000 insurance will pay.