PayPal's Purchase Protection Policy states:
"If you wish to open a Dispute through PayPal's Online Resolution Center, you must do so within 45 Days of making your payment or initiating your transaction in the case of Pay After Delivery."
Since BBS forces you to pay up front and there is no estimate on delivery, it may be more than 45 days after your purchase that the shipment actually gets lost. By the time you realize what happened, it's too late to file a dispute with PayPal and BBS can just say "Well, I guess you shoulda bought the insurance, Bub."
I consider a good return policy and customer protection to be part of the complete customer service policy. BBS obviously lacks in these areas when it comes to exclusive knives.
I already put my order in, so I guess I'm testing my luck.