As far as I've seen, no. Most of the reasons being that in-app purchases don't necessarily run through Apple. Apple can only cover what they give you (the app). Most apps that have in-app purchases allow you to retain your in-app purchases by holding a user account. For example, I have an account with DailyBurn.com, and when I use the app (DailyBurn), I always have the in-app purchase "Barcode Scanner". As long as I'm signed in, I keep that purchase. Some in-app purchases are one time deals (like the Mighty Eagle in Angry Birds), and others are recurring ones (like new issues of magazines, which will soon migrate to the Magazine App).
Check with the app itself to see what in-app purchases are covered in.