WordPress database error: [Query was empty] – using $wpdb->prepare()

You are aware that $wpdb->insert does exactly this?

$wpdb->insert(
    'table', // Table name
    array(
        'column' => 'foo',
        'field' => 1337,
    ), // Columns
    array(
        '%s',
        '%d',
    ) // Explicit formatting
 );

Right?