if you have insurance through Verizon like I do, it will cover anything that happens to the phone, be it from my stupidity (which is a lot), to something that is the phone's fault. It's called buyer's protection and cost's $57 (one time fee).
If you don't have insurance on this phone, and buy another one, I strongly suggest getting some on the phone. To me, that's a lot of money to spend not to have insurance on.