The iPhone 4 isn't shatter proof, this we know. Even worse, when you break your iPhone 4 you'll have to pony up as much as $700 to replace it. Or you can just pay $12/month for insurance.
Asurion is offering an insurance plan for the iPhone that'll cover water damaged phones, lost iPhones, stolen iPhones and more for $12/month. You sign up through their MobileProtect app in the app store within 30 days of purchase and when something horrific happens to your iPhone 4, you can get a new one as soon as the next day.
With Asurion, you pay a deductible (either $149 or $199 depending on model) along with the $12/month to replace an iPhone 4. Over a 2-year contract that totals out to $437 or $487. Buying an iPhone 4 off-contract is $600 or $700. If you already know you're gonna screw up your iPhone 4 somehow, get the insurance. Or maybe buy a more durable phone. [Asurion]