Need advice for broken phone?

My new PDA phone through Sprint broke on Saturday. It was in my bag and I guess too much pressure was put on it and now the screen is scrambled (only a series of lines on the display). There are radial marks where the pressure point was. I added insurance that day from my friend's phone (I've only had the phone for 30 days so they let me add). How long do I have to wait to make a claim without it looking fishy? Will they even replace it for me? Should I lie and say it was stolen?