I usually never get hit when grabbing a bomb. I find the best way to pull a bomb is to provide urself with a spacer first. An example would be a boomerang as a spacer then bomb pull. Its also alot easier and safer to pull a bomb from a short hop since ur not stationary, your less of a sitting duck.
While bombs are nice for combos and everything. Bombs and boomerangs work great as traps or mind games. By throw a bomb behind them and a boomerang above their options are more limited to they can do. Sometimes they rather risk the bomb hitting them then your sword, but by that time u should be charging them and hit them after the bomb.
One of my favorite bomb styles is to throw one straight up in and jump grab another one and throw it toward them. They could choose to charge you, where u can shield, pull back, or combo them into the bomb above you. Or 2 they could try to retreat, where you successfully pulled a spacer. And theres also a chance the forward tossed bomb will hit them, so when u see that as a possibility you charge to combo off the bomb. And if u really felt like being defensive, if they back up you can catch the bomb u tossed straight up and then throw that one at them as well.
Bomb are a really great distraction and will sometimes make the other players focus on them rather then you. or they ignore them completely which will allow you to hit them with it quite easily. You just have to figure out what type of player they are and how they compensate for the bombs being thrown around. Then its at simple to just use your bombs accordingly.
Hope this helps.