I solved this by putting a statement like the one below in bold red text just above the box they have to check to select the insurance:
Do not add shipping insurance if your shipping method is this, that or the other, as shipping insurance is already included. (obviously you would replace "this", "that" or "the other" with the shipping methods that apply to your store).
I don't want to sound like I don't care about my customers, because I do, but quite honestly if a statement in bold red text doesn't stand out well enough for them to see it, then so be it. At some point, customers need to be responsible for themselves and their online purchasing process.



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