A good topic.
1. Protect it from external impact. The screen appears to be the weak point. I have heard a number of compliants regarding damaged screens. PDA screen protectors maybe an answer. I carry my gps in a protective camera case. There are a number of cases on the market that are sized right, and the cost is low. Both my Garmin Legend and the 76C work while in the closed case. The case protects it from impact and moisture. Food for thought. During the hay day of the compass I might check it a couple of times during the day while out hunting. The rest of the time it was in a protective shirt or vest pocket. The object of the day was the hunt, not a compass course. I feel the same about the gps. I will stop and check it, and then put it back in the case. It does not need to be banging around, hanging up on the brush, and beating on logs like a drumstick.
Geocaching can be compared to running a compass course. You are not worried about scaring game. Most likely the gps will be in hand, or placed in a protective pocket depending on how close you are to the cache.
2. Leaking batteries might be the biggest killer of handheld gps units. If you are not going to use your gps and it is loaded with alkaline batteries, remove them and place them in a zip lock bag. Alkaline or heavy duty batteries sold by $ Stores and like maybe close to the end of their shelve life at time of purchase. I believe that you get fresher bulk batteries from Costco and Sam's Club because of their high volume sales.
3. If your gps takes a swim in the river. Turn off the power if it is on. Air dry the unit. Make sure the batteries are dry. Do not place in the oven or Microwave. A hair dryer on low heat can be used with caution. Drying time maybe an important element. While many units are listed as being water proof for 30 minutes do not wreak a gps because you are in a hurry.
4. Do not place a gps in a location that it maybe damaged by others. While living in Mexico a friend picked up another gringo friend and gave him a ride back to the village. After letting the guy out he discovered his passenger had been setting on his older Garmin Gps45. This old unit has an external antenna. The wire lead was broken off. The cost of repair by Garmin was more then the cost of buying a new gps.
I stopped at a local trail head and spotted a group of geocachers. One was swinging an eTrex around by the lanyard. A design for disaster. When I orientated grandchildren to the Garmin Legend one of the first things I tell them is the lanyard is to retain control of the unit and it is not to be used to swing the unit around with.
5. Protect it from theft and sun damage. If you live or travelling in a hot climate exposer to the Sun radiating on a windsheild may damage your gps when parked. If it gets that hot while your in the vehicle you no longer need to worry about the gps.
If your gps is visible in a parked vehicle it may invite theft. Trailheads in recreation areas are subject to a lot of smash and grabs.