interesting question, since the crafting "Ship" upgrade gameplay/function is not available in game and i will be using This line "Level 1 is chassis and original" i want to say that you should be claiming back the upgraded ship's value in UEC/Credits (basic Level 1 insurance ). To Claim back the ship, Warranty is needed and an active Insurance But i will wait for confirmation when the crafting game mechanic is live, then will most likely will have a more in depth coverage on the insurance tiers and the warranty.