Do I need to reactivate my Verizon Cloud account after upgrading my iPhone?

If you have one with Apple that you have been using for a while then you don't need one from Verizon. I don't have Verizon so I don't know what it offers. It may include some free items for which you are paying with a regular Apple account (unless you use only the free one like I do). If it does include bonus things this might merit closer consideration but perhaps a complex solution.

For that matter you may just wish to contact Verizon and ask them what to do. You are probably not the first customer to have this question. ;-)