Lifehacker suggests packing a gun to protect valuables from airline theft. Checked bags containing weapons are tracked much more intensively (for obvious reasons) so the idea would seem to hold up.
A one-time investment in a $20 starter pistol is probably a lot cheaper than full insurance over the long run and could* reduce the possible hassle of delays or loss also. I wonder how much abuse a provision like this would have to have before the additional tracking becomes meaningless and another tier of treatment is needed.
(* Reminds me of the time I used a faulty touchscreen on a self-check-in terminal for an Alaska flight and it recorded me as planning to carry a weapon in my hand luggage. If a paper boarding pass could ever be described as panic-stricken the big, bold "!!!!!NOT VALID FOR TRAVEL!!!!!!" message came pretty close)