There is actually some recently scholarship that suggests the word Palestine actuals derives from a Greek translation of Israel. The first recorded usage of Palestine (Palaistine) came from the Greeks and is very similiar in etymology to the word palaistes (which means "to wrestle" or "adversary") In the Greek Sepuagint this word "palaistes" is used to describe the struggle between Jacob and the angel. As we know, Jacob's named was changed to Yisra'el (Israel) which means literally "to struggle with God".
We also know that the Philistines settled regions along the coast of the Mediterranean sometime around the 13th century B.C. (don't want to use B.C.E. and be accused of being a liberal!) This would put the Philistines in the area of Palestine several hundred years AFTER Abraham and Lot settled the area of what is now the West Bank (including Jerusalem).