No insurance. Never had it on any of my phones. My first three phones I never had a problem. My LG VX8550 was replaced three times under warranty, but again no insurance. My first Droid was replaced under warranty after I bricked it. They sent me a brand new one (not a "like-new" replacement) which was actually surprising. Funniest thing about it was I bricked that one doing a simple framework-res change. Since then I've changed ROM's about 5 times, changed bootanimations, framework-res and swapped out practically every standard .apk there is with no worries.
p.s - I owe it all to Nandroid.