UPS will let you insure it for as much as you like, however as the poster above said they only refund you up to $500 on items of "Extraordinary value" such as watches, jewelery, antiques...etc..
So while you can insure your watch for a million doesn't maen you will get a million back if they lose it, you have to read the fine print. Similar for USPS Priority, you can insure it for whatever you like, however if you cannot prove its worth (Sales reciept, Appraisal...etc) they will not reimburse you as who knows what you really sent. The only type of mail I know of which is absolutely safe is USPS Registered mail, they have extremely strict guidelines for this, and it is not cheap but every Jeweler I have ever dealt with mandates that you use this method of shipping when sending something to them. And from speaking with the Post Office your package is guaranteed no matter what...
However if you are dead set on using UPS you can always buy secondary insurance through another company such as Parcel Pro.
: This is not true. UPS charges .25 cents per
: every $100 of coverage.
: Keep in mind when ordering commodities via the
: internet, to figure in premium shipping
: costs. When a package is shiped 'Overnight'
: or '2nd Day Air' from FedEx or UPS, your
: package is mixed in with a much smaller
: number of other packages, and the already
: small chance of your package getting
: lost/damaged, gets even smaller. A premium
: service package also receives preferential
: treatment because it's not mixed and or
: sorted with the 'anvils', 'monster truck
: tires', 'kitchen-sinks', etc that others
: have shipped. The biggest reason to utilize
: a premium service is the fact that usually
: with a premium service, you get a guaranteed
: window of delivery. This allows you to
: expect and make arrangements to accept the
: delivery for high value items such as your
: dream watch. It also eliminates waiting on
: the curb for the delivery guy, and the
: disappointment when he doesn't have it.
