Can you trade a broken iPhone 4 for a new iPhone 4 at at&t?

I Want To Buy A Water Damaged Phone

So you want to buy a damaged iphone, activate it on ATT, wait 1 week, and then file a $99 insurance replacement to get a new iphone 4?

theoretically it will work… But if ATT sees there's no usage on the iphone (cause its broken) in that 7 day time frame, they may get suspicious