It is more like $1.60 per thousand to insure. Two directions on an expensive with shipping would be over $500, not exactly chump change.
What I have done in the past and am now reconsidering, is to pay insurance on the frame. Say it is a $4,000 frame, I pay the 64 bucks each direction when going on vacation or to a race. I doubted that the components would be damaged or in other words, the frame is what gets ruined and possibly some replaceable spokes.
I usually assume the box will not be put vertically, it will be on its side with a 1000 pounds on top. So, structural support is needed to keep the weight off the frame. Wood, cardboard, PVC pipe etc can be used.
But lost? I never consider that. Stolen? yes. I call and ask what time the driver picks up from Fedex dropoff and go about that time to minimize a bike laying around a drop store that has no liability