mobile phone theft/ loss distant sellling cancellation

[sublimeport]

hello
If i was to sign up to a mobile telephone contract for 12 or so months.
then if the phone i recieved was stolen or lost in the first few days.
if this phone was then replaced by the company who sold me the phone/contract because of an insurance policy that i had also signed upto .
then if after a few days i got a job abroad and had no use for the contract or phone would i be able to send the replacement phone back to the moible retailer and cancel the contract under the distant selling regulations without any penalty. (other than paying the excess and paying for the calls)
just wanted to know because s**t happens and it is quiet possible that i might get offered a job abroad aswell
thank god for the internet!
many thanks