Whilst policy wording is problematic, or some make it so,

the eBay MBG does cover items damaged during post - see eBay FAQs

http://pages2.ebay.com.au/eBay_Money_Back_Guarantee/FAQs

"What determines if an item is ‘not as described’?

A ‘not as described’ item should be materially different from what the seller described in the item listing. This includes:

• Different item or version
• Wrong condition e.g. the listing stated the item was ‘new’ when it’s clearly been used
• Missing parts or components (e.g. a listing for a camera kit stated it would include a tripod, but it’s missing)
• Defective during first use (e.g. TV didn’t turn on)
• Counterfeit item
• Missing major parts or features, and this wasn’t mentioned in the listing
• Damaged during postage"