[Linked Image from i.imgur.com]

You can make a pretty nice heat shield with copper. Fasten it with copper nails so that there is a 1 inch air space between the metal and the wall. Also a 1 inch air space at the bottom.
I bought the copper and laid it down on a big plank, and beat hell out of it with a ball peen hammer. Hammered copper.
It looks even better in real life than it does in the picture.

Someone said, the insurance company will get the final say. I have been burning wood stoves here for 21 years, the insurance company knows it, and they have never said a thing.

I figured, they would send an inspector up and he would take measurements, take photos etc. No. They have never taken a look at my rig.