If I trade my RAZR for an IPHONE can I still get the insurance through Verizon on the traded phone?
AFAIK, Verizon only provides insurance on phones purchased through them. If you are doing a trade in store, you should be ok.
You can insure it with http://www.zagg.com/store/services/zaggsafe/safe.php $99.00 for 2 years I use it for my tablet.