surprisingly, it doesn't work that way.
Because I've had a package that was insured with tracking and when the payment bounced a month later, paypal did nothing.
It's called "end of month charge back fraud".
This.
Without saying a terrible lot about myself i've worked for an ebay company for a few years and I've dealt with both ebay and paypal resolutions/cases. As far as Paypal goes, the customer is not happy, they get their money back. Almost no questions asked. Why? Because Paypal wants to be seen as safe for the consumer. I would never touch paypal again if I could avoid it. They're a horrible company and they pretty much float above the law by making you agree to their user TOS.
You'll probably be fine but if you cannot afford it. Then don't risk it man.