Is a chip at the top left of my iPhone considered a cracked screen?

I have a chip in the top left of my iPhone and I wanted to know if Verizon would deduct money off my trade in value it's about a half inch of a piece of glass that cracked off but it is still in the display. It is a iPhone 6 by the way.

Yes that is considered a cracked screen as the glass cover of the digitiser covers the whole front of the phone. Although the digitiser is still intact (the actual screen) the glass is damaged which everyone calls a cracked screen.

A half inch is a bit more than a chip so I would expect some sort of penalty on the trade in

Any damage obviously lowers trade in value.