They will take your money but they will not pay out if it is lost.
False.
Do you live in the US? Maybe it is different from where you live. You can insure a piece of paper for $5,000 and if they lose that package they will pay out.
I had two U2 tickets shipped to me, bought them for $100 each, USPS lost they package. Luckily I was smart enough to know that if they lost them and I had to buy new ones they would cost me well over $300 each. I insured the package for $1200, they paid out. I bought new tickets for $250 each and had $700 in my pocket. Not a bad deal.
They even asked me what was in it? They said the weight was so small. I said does it matter? The said nope it doesn't.
Yes, they will insure paper but read the fine print, they will not insure gold or silver.
Well obviously. Everyone knows never to label your package with that.