I made a quilt for my brother for Christmas and had to mail it to him. When I was asked if I wanted to insure it, I said yes, then they asked for the amount. How do you value something that is really priceless (it is one of a kind, just for him). I insured it for $500, which is about the cost of fabric and quilting. I could not see insuring it for more, as I would not know how to value my time. Luckily, he got it without a problem and loves it.