Overview
Declared Value is the “insured value” of items you’re shipping to customers. Carriers have their own insurance thresholds and charges set for products with declared value.
This doc tells you where to set insurance percentages for products that need a declared value passed in the rate.
Keep in mind that each carrier has a minimum threshold for your product cost/cart total in order for insurance to apply. If it’s not high enough then it will not reflect on the shipping rate.
Setup
Turn on Declared Value Insurance
You can set Declared Value in ShipperHQ under My Account > Global Settings.
Locate the “Insurance Calculation” dropdown seen in the picture below:
Change the dropdown from “No Insurance” to one of the two other choices:
- Percentage of Cart Price: the total cart value is calculated using the item’s prices and quantities, and the final declared value is a percentage of this amount, based on the “Insurance Percentage” value. To use this feature ensure you have set a percentage value in the Insurance Percentage field.
- Product Cost Value: you can explicitly set a value on each product using the product attribute “Declared Value” (Magento/Zoey only). To use this feature ensure you have set a value for the Declared Value attribute on each product.
Once you’ve selected one of the above options, enter the Insurance Percentage that you want to charge off of, and Save the settings.
Declared Value Attribute
To denote the declared value per SKU (for “Product Cost Value”, above) you will need to assign the declared value attribute to your attribute set(s).
This will add the “Declared Value” field to your products within the product catalog.
Enable your Carrier Setting
After you’ve turned on Declared Value Insurance settings, you need to decide which Carrier you’re sending a Declared Value to.
Navigate to Carriers -> Edit your Carrier -> in the Basic panel, scroll to the Account Settings Section.
There should be a checkbox for “Send Declared Value to Carrier”. That needs to be selected in order for the declared value to be passed. Screenshot of the Account Settings with Checkbox below.
