My new Motorola razar droid maxx tells me every single time I have no SIM card. I power down, take it out, put it back in and it continues doing it. Total piece of junk and I'm sorry I ever bought it. Any suggestions??
The SIM card may not be seated well or is damaged. Try replacing the card (free at a Verizon corporate store). They may be able to help with seating the sim better.
You should also be aware that you only have 14 days to return a device, so I would hurry depending on how new your phone is. While It would be nice if it was just a poorly made SIM card, if the issue is in the phone it would be nice to be able to get a new one to avoid headache down the road.