And let me just add that if you want to change this, simply edit the text in the appropriate text in the languages files, found in the
/includes/languages/english/modules/shipping
folder, for each shipping method.
e.g.
for first class mail, you would edit the rmfirst.php file there and, for example, change the MODULES_SHIPPING_RMFIRST_DELIVERY_SHIPPING_TIME definition from 'Ships normally within 1 to 3 days', to
'No Insurance, Ships normally within 1 to 3 days', and save the changes.
I should also mention that there is a LOT of flexibility in these modules. The standard installation is simply my idea of what people will probably want to get them up and going.
You can set the minimum and maximum weights and goods values that will use a particular shipping method, and whether these should be checked at quote time.
Some of the modules have an experimental 'Hide invalid shipping' option that would require these to be set to work.
Handling and packaging fees, packaging weights, number of boxes per order, can be changed as well,
etc etc
All of which underlines why it is a very good idea to spend a bit of time thinking very carefully how you want to structure your shipping and what the consequences of those decisions are. e.g. if someone orders an item worth 500 pounds, and normal 1st shipping is selected, you'd better hope it doesn't get lost in the mail. Better to disable the ability to select the option.