you can insure a droid through the cells companies insurance, iphones have to go through apple.. I beleive and the hotspot with the iphone would only be 3G.
Choice is yours....
What it boils down to is your choice.... you are going to get more biased opnions over this subject than anything. Some people are loyal to apple and will defend it. Some dont care. You need to go look at each carriers high end Android and thier iphones.