Don't panic, and stay calm. Many a times, we tend to forget the location and believe that the device is lost / stolen. The primary action you should take when your phone is out of sight, is to call your mobile number from some other device. A lot of of us have done this at least once during our lifetime. To avoid losing data in such situations, you should ensure taking backup in some other storage device after regular intervals.
In case you still aren’t able to locate your device and the service provider reports that it is turned off, you need to take relevant steps. IMEI number provides great help in such situations. If you know this number, call your network service provider to inform that the device is lost / stolen. They will block your device; however this process can take up to 48 hours.
Nowadays, mobile tracker services are also available by which you can track your lost device with its IMEI number. You will get the location of your device once it is turned on and someone inserts a Sim Card. You will also be informed about the network provider and the number which is being used in your device.
To ensure peace of mind and saving money, you can always opt for affordable mobile insurance services. If your lost / stolen device was insured, you will be reimbursed by the insurer. Thus, you avoid spending money or waiting for months to buy a new mobile device.