Insurance on COST, not RETAIL price

[philip6]

When insuring a package, we want to be able to insure just the COST of the product if damaged or went missing, not the RETAIL VALUE. Currently your software takes the full retail value and uses that to determine the insurance amount. This doesn't make sense as shipping carriers will only reimburse you on the cost, not the retail value. This is a fault, as no system is set up like this. If I lose a $1000 item, but it only cost me $100, Fedex will only credit me $100. So why am I paying insurance on $1000 if Iêd never get refunded that? Iêd be spending like $10 extra on insurance, for an item Iêd never even get credited for. Lets update this right away. It's not feasible to manually change the insurance on every order for a bigger company. Thank you

[philip6]

Hi Shipstation, Not sure of all carriers, but here is a document from UPS: http://www.ups.com/media/en/terms_service_us.pdf They state in regards to claims... actual cost or replacement cost of the property If you're a consumer that is shipping a friend an ipad, then the replacement cost is the $400 you paid for it. But if you're a shipper, then they know the replacement cost is say $50 for example. If I have an item that cost me $10 to make but I sell it for $1000, they aren't going to get in the business of buying my products at full price. I've dealt with them for 11 years and sometimes a rep who doens't know what they are doing will give you a credit for retail, but often its cost. Also, I don't want to have to pay insurance on $1000, if only one goes missing every so often and my real cost is $10. I'd be/am paying thousands of dollars a year too much for insurance that way. Currently my workflow is Magento sends the retail value to shipstation for the products, and then Shipstation takes that retail amount and puts it in the insurance box. The only way to change it is to add up the cost individually for each product and manually change the amount in the insurance box. See the trouble there? Thanks

[ted_tieken]

What we need is a rule to set it to the carrier included amount. We've done the math and we don't loose enough packages to pay full insurance.

[deebert7]

Glad to see this is an issue for other folks! I don't want to insure the retail price, just the cost. Personally I use the presets a fair amount. It would be nice if it was added to the presets just like weight or dimensions where you could specify a set insurance amount. To carry it one step further, it would also be nice if when adding rules to products they system gave you the option to select your presets instead of each individual variable like weight, dimensions, shipping location, ect. Pretty pretty please add this. I love shipstation but it's a little painful always manually making these insurance changes. thanks!

[jon25]

I need every order I ship via USPS Priority Mail to be set to $100 for insurance regardless of what the order total is. I don't see a way to setup filters and automation rules to set insurance to $100 automatically. I have to manually type $100 into the insurance flied for every order. Please add filter rule options to set insurance for $100 since that amount is free and covers most of the cost.

[spruell_mark]

An automation rule (with math!) would be very helpful for us. We currently use a "deductible" with our shipping, so we don't insure anything below a certain threshold and we also deduct that from the total sales price of packages above the threshold. We insure monthly with U-Pic, so we have other ways of doing it, but it would be great if this could be done in Shipstation as the product ships.

[jung]

Yes, the insured amount should be the cost value, not retail, b/c of what the original request said. Shipping carriers like UPS pay claims based on cost.

[BC-Shipping]

8 years later and this still is an issue. How is this not fixed yet?