these phones don't have the old style vibration system of a motor with an out of balance cam, they have a new fangled electromagnetic dealibob that makes a different noise, and is intentionally louder. if you really feel it's wrong, take it in to best buy where you bought it and get them to replace it, you might have gotten a defective vibration module.
No its as something is loose and touching whatever vibrates. Its obviously not supposed to make this sound. Thanks for your advice though, I'll try bestbuy first since its literally in the same plaza as the verizon store.