The OP bought an Air, not a 4. The Air is the 5th gen.
No are no refurb Airs available yet.Not sure if it wasn't mentioned for a reason or if people weren't aware, but AppleCare+ for the iPad allows for 2 replacements due to spills, drops, or other physical damage. There's a $49 deductible for each incident. AppleCare+ can also be transferred if you decide to sell the device, so you might be able to get a few more dollars for it.
No AppleCare+ and a drop that breaks it = $299 for one OOW replacement
AppleCare+ and somehow manage to break it twice = $200 for AC+ and two $49 deductibles.
The $99 for an expensive portable device is relatively inexpensive (~10% of purchase price) peace of mind.