Looks like Chase cards generally insure you up to $3,000 for lost luggage. If you're honestly transporting more than $3,000 of goods by air, it's probably a good idea to insure them separately and specifically. The carrier's limit is about avoiding the "but my priceless jewelry was in my checked bag!" claim - I feel like the average contents of a checked bag aren't going to be worth much more than 1k.