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I can't think of any (as you said, you can't really protect a hardware failure - except maybe a good case), but: making a backup of the flash memory as one of the first things before installing jailbreaks/hacks probably doesn't hurt and is one of the possible applications of k3flasher/ATK. I've included a simple shell script that creates a bunch of backup images for the various parts of the flash memory in the more recent versions of k3flasher.
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