What if I lost my iPhone 16 pro max?

Finding an item that was replaced by insurance claim and not returning it to the insurer is insurance fraud. The IMEI number is reported to the cell carriers as lost/stolen and it’s black listed and can never be used again until insurer reports lost item is found and requests it be delisted.

If you got the new one from an AppleCare+ claim, the original would no longer be your property.

If you purchased the new one in the normal way, it's your choice as to what to do with the original.

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