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Correct, however it may be advisable to get the correct amount of insurance on the shipment to cover the cost of the firearm. I always do.
I have used both Fedex and UPS stores, not hubs to ship a firearm. Neither asked, nor did I declare it was a firearm. I used fedex for a couple of pistols as their nexday services tend to be less expensive. I simply requested the next day and insurance. Nothing less, nothing more.
And what do you suppose happens when you go to file the claim if your gun goes missing?
Do you think FedEx is going to pay out on the claim when they a) learn what the item was and b) discover that YOU didn't adhere to their policies?
Or is your intent to continue lying at that point and tell them that it was a widget and not a gun?
Except you're going to have to report the gun missing to the police...and the police will probably want to talk to FedEx. So odds are pretty good that FedEx will figure out what you did one way or another...and NOT pay the claim.
It isn't worth the headache.