Whether or notyou should insure is, obviously, a personal decision. It is my opinion that the cost of such insurance is too high. It is not like auto insurance where costs and values are pretty much known and unarguable at the time a claim is placed.

In the example I cited, if you paid $500 for the chip and lost it, you would (I should say possibly) get paid $50+. Now if you reversed the numbers above, (ie, the lastest sales were the most expensive), I still believe the insure would pay closer to $50 than the $500 you actually paid.

Because of the difficulty in establishing value (although you appear to believe that is not a problem) combined with, what I think would be a hard time collecting (on a large claim), I don't think it's worth it.

Now I believe there is some value for chip insurance, so those completely adverse to any risk should buy insurnce. Just realize that you are overpaying for what you get. Of course there are exceptions to the rule. There are always people that game the system and receive much more than the cost of their premium.

To each his own.

Lastly, I have fully investigated carriers that provide such coverage.