Almost sounds more like an insurance policy. How much is the cam, how much is the policy?
I have taken video cams early ones were you had to have a portable VHS deck in back pack skiing on black diamond runs, have had the the passanger on my harley shooting while cruising. I just make sure I have a waterproof case for when not using. Find out how long company has been around and say in 2 years if cam gets "destroyed" will they replace with the current equal canon or the the reduced value of a cam out of production.