A drill bit made according to one embodiment includes a bit body and at least one preloaded sensor in the bit body. In one aspect, the sensor may include a sensor element on a sensor body having a first end and a second end and wherein the sensor is preloaded after placing the sensor body in the bit body. In another aspect, the sensor may be preloaded outside the bit body and then placed in the bit body in a manner that enables the sensor to retain the preloading.