You should always get insurance on these high end devices, although, I do not know what good the insurance will do you. The insurance companies have that statement which states that they can you send you a new/refurbished device similiar to or like yours, or something similiar to that. You could break a storm2 and I would not be surprised if they dont have any refurbished storm device that you get a storm1.
I have not had to use the Verizon insurance yet but I know with Sprint a while back I purchased a brand new phone, and it got knocked out of my hand by one of my dogs, and the insurance company sent me a phone that was 3 years old. They should let you choose to pay extra if you want to be assured you would get a new device in the event you break yours and have to use the insurance.