Personal decision, but I never buy protection plans...I buy my devices w/Amex card to double manuf. warranty up to an additional year, and then keep the rest of the $ in my pocket. Since I've owned Smartphones for five years now and have never lost or trashed one, that's about what, $500 I've saved to spend on other toys (HP Touchpad running Android amongst others...).
I'll have my D2 to fall back on if I did something really stupid w/my next phone (Nexus), but definitely not going to put $200 in BB pockets for insurance...there are just too many Android phones I could purchase on eBay/Craig's List for that $ if I did trash/lose my Nexus and wanted something aside from my D2. I'd think pretty hard before forking that amount of $ over...
But, aside from that, what's the BB return/exchange policy? Anything like the Costco 30 day return/90 day exchange, no additional fees (other than any price difference between phones).