1: it cannot be insured, thats right you break it oh well.
2: you have to send it to apple to get anything done on it. You can just change the battery because the whole phone is the battery.
3: IF you have an unlocked version there are certain things you just cannot do. as far as web communications and email problems.
My other friend has an N95 and I think it is a little too big for what it does. The 5 Megapixel camera is FUCKING NUTS! but the size of the back of the phone makes it a bit hard to put in the pocket sometimes, and its a bit heavy.
I personally, own the razr2 and i love it. But thats me!