Why would you risk it?

Given what happened to the UPS Cargo plane that crash landed, caught on fire and had all of its cargo contents destroyed recently. I hope that you reconsider if any of you have things shipped not fully insured/declared (for customs) just to save a few bucks or to? I feel for those who had things on that plane and more so for those who did not have their contents fully insured.
That's a good sentiment, and I actually got nervous when I saw that on the news, because I live close to Philadelphia and was expecting a couple of audio components that were being shipped UPS - luckily they hadn't gone out yet. If a product still exists and its current price is public knowledge I always insure for the value of the product new. It's not that expensive, and the alternative could be a lot more expensive in the unlikely event.
It all comes down to what risk you can take, the cost, and volume of shipments. On small items what if you skimp on the insurance to the tune of $1 and ship a million packages. You saved $1 Million. How likely is it you'll lose a Million on lost packages?
Hmmmmm, I hate to get off topic, but I "feel" for the pilot(s) and their families. Most cargo can be replaced. Family members cannot. Fortunately the crew members turned out to be alright.

As for insuring anything that you ship, hey, the insurance is pretty damn cheap. If something is worth like $10 or $20, then I blow off insurance, but you better believe I pony up when an audio component is involved.

It makes sense to insure anything that would be costly enough to really make a dent if something happens. I haven't always done so, but since you brought this thread up, I will probably do so from now on. Thanks for the heads up.
Yeah, but will UPS pay off if the insured items that burned were not double boxed :-)
Ya, the pilot put in one of the tubes backwards.
Seriously- I've fought both FedEx and UPS over items that I shipped insured. I had original receipts and everything else they asked for, but getting payment was like waiting for an Organ transplant.

Yes, Insure the item. But be ready to deal with insolent careless claims reps who give not one shit about you.

That's my two cents :)