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Petemac
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Hi, Jason pretty much nailed it on the head for your choice of insurance. If doing singular than generally the carrier is the easier way to go but not necessarily the cheaper one. If shipping regularly, this can be a combination of International and National shipping. than yearly coverage is a cheaper option.

Regards the $500 for freight, what size, weight and qty boxes make up your shipment? Is that $500 AUD or $500 USD?

Cheers
Pete