There a many border possibilities. The following should give you a starting point:
Code:
Sub InsertPicture()
With Application.Dialogs(wdDialogInsertPicture)
If .Show = -1 Then
With Selection
.MoveStart wdCharacter, -1
With .InlineShapes(1)
.LockAspectRatio = True
.Width = InchesToPoints(3)
With .Borders
.OutsideColor = wdColorBlack
.OutsideLineStyle = wdLineStyleThickThinLargeGap
.OutsideLineWidth = wdLineWidth300pt
End With
End With
.Collapse
End With
End If
End With
End Sub