yes you're right, Margo, unfortunately, but the fact is insurance companies have to make a profit too. It's their job to find out what the exact liability is and pay it.
I absolutely agree! However, as a small businessperson I need to make a profit, too.

Let's see, rough analysis: I've paid approximately $6 for insurance per bike/frame I have shipped over the last 13 years. That's about $180 year (30 bikes/yr) x 13 = $2340. Losses I have incurred for damaged bikes as a result of shipping through these couriers = approx $3500. Total costs I have incurred due to paying insurance and having couriers damage my bikes: approx $5840. Total amount the couriers/insurance have paid out to me when I have made claims on those fully insured bikes: $0 .

That seems like a pretty good profit to me!

My point wasn't to bash insurance companies--gotta have insurance, regardless if they pay their claims--but to warn the OP based on my experience shipping bikes, and many stories I have heard from others in the bike industry.

I now take pictures of all of my bikes covered in bubble wrap before I put them in the box, then more pictures of the box once the bike has been put in it and sealed up.

I have even had folks at the desk of one of these couriers tell me not to bother with buying insurance, as it is rare that any claim will be honored (wink wink). But, of course, I insure them, anyway.