Had the chip disappeared, I guarantee you you would not have collected on the claim. The insurance thing is little more than a scam. The story you told at the counter, had the wrong person been in earshot, was just begging them to steal it.
If you ask 400 different people at 400 different shipping stations about insuring a particular item, you'll get at least 100 different answers. But if it becomes the target of a thief or otherwise innocently disappears, you'll get the same answer: "We don't reimburse for that."
It's what it's always been: Ship at your own risk. My two cents worth. And I worked in the industry for years.
Cinch
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