I received a 330.7 in February. I did not purchase the protection. If it gets lost it isn't delivered so I'm disputing the charge. Damage should be visible because the packaging will have to be damaged before the tank or stand. To be honest as well as mine was packaged running forks through the side or having it falling off a moving truck are about the only way I could see it being damaged. IMO that protection is nothing more than a cash grab just like the protection plan retailers try to push on everything.
EDIT My understanding is you must inspect and note any damage at time of delivery protection plan or not.