Hate having to read through a thread to get the full story Few thoughts, but apologies if missed anything.
First step should be to report this to the company. The behaviour is not acceptable.
Getting the money out of them seems not possible. Although the action was anger driven, if he didn't know the phone was in the bag, its damage was an accident. Even if the company themselves dropped something on your phone, they would unlikely pay for it because they'll probably say they are not responsible for personal belongings, although they may be insured for this stuff.
Reporting it to the police seems a bit OTT to me but I'm not saying it shouldnt be done. Did he throw the bench at you? If so, definitely report it. If all you can say is that he picked up a bench and threw it across the room (not at you) then picked up your bag and threwitand not necessarily knowing your phone was inside, they're going to tell you to move along.
IMO it should be handled by the company. This may not recover the cost of your phone but they need "managing" and should receive a final warning.
Do you have any kind of accidental damage insurance on the phone or your contents insurance cover items away from home? If so, look at that for a claim. You can be honest, ie, colleague threw bag not knowing my phone was inside. To me, this is accidental damage.
Lastly, avoid conflicts with colleagues. If you couldn't decide about the bench then maybe should have been reported to team leader/manager to intervene and decide. Maybe do this if there's a next time. Whose job at the time had higher priority to use the bench?
Lots of tough talking here but it's best avoided

especially when they could have you sacked on the spot for saying stuff/threatening behaviour.
If you cannot recover the cost and feel you cannot work with this colleague then you have to tell management this, of course after they've already investigated the issue, but you're going to have to be prepared to walk if they don't let your colleague go.
An old colleague once told me that when certain things happen in the workplace, even if it appears resolved, eventually someone loses their job over it, ie, it simmers away until something happens again. They're right too. So don't let that be you.