UPS® Capital insurance policy settings

Lost and damage service
September 6, 2017

Need help navigating to the edit shipping account page?

Check out the Enable lost and damage service article within this Optimum Parcel help center.

The settings listed below are intended to provide guidance to Optimum Parcel customers in configuring lost and damage claims for UPS® Capital automatically, within the Optimum Parcel customer dashboard. The options detailed below are available within the Edit shipping account page, on the Lost and damage service section.

Template / Default options for UPS® Capital:

Enabled. Y (Auto)
This ensures that claims are filed automatically.
Include service failures. Y
- Note: mark as N when no time-sensitivity exists for typical shipments.
- Note: mark as Y for time-sensitive, perishable shipments.
- Claims will be submitted on any shipment not delivered on the scheduled delivery date.
Examples of time-sensitive perishable shipments:
- Example: Cold storage pharmaceuticals
- Example: Fresh cut flowers
- Example: Speciality foods
Exclusions for time-sensitive perishable shipments:
- Hazardous materials
- Oversized shipments
Claim type. UPS® flexible parcel insurance (most common)

UPS® Capital offers several insurance policy types to shippers. Please select the type named on your policy from the list.
Common policies:
- Flexible Parcel Insurance (most common)
- Flexible Parcel Multi-Carrier Coverage
- High-Value Goods: Parcel Pro™
- UPS® Capital Elite™ for Vintners
Policy number. Specific to your business
- Note: Begins with 87941, 496961 or 15914024.
- Note: This can be found on the insurance policy document.
Product name. Specific to your business
- Enter the name of the product you ship the most.
- Tip: Be specific by choosing the name of a single product
- Tip: Use the same name defined on your customer invoice.
Examples:
- Example: Insulin
- Example: Orchid
- Example: Steaks
Product description. Specific to your business

Tell us a bit more about the Product.

Examples:
- Example: 33 mcg/mL
- Example: ORCH481 – square planter
- Example: Frozen, 16 ounce, family pack
Product quantity. Specific to your business

Provide the quantity of the product included in typical order.

Note: This will be used to create each line item on the documents generated.

Examples:
- Example: 5
- Example: 6
- Example: 1
Product price. Specific to your business

Provide the list price ofthe product included in typical order.

Note: This will be used to create each line item on the documents generated.

Examples:
- $582.18
- $627.02
- $223.86
Claim valuation methodology. Fixed valuation methodology

This determines how the total of the claim is calculated.

Note: Alternate claim valuation methodologies require input from Optimum Parcel. Please contact customer service for more info.

Alternate types of claim valuation methodology:

Examples:
- Weight-based valuations
- Reference field mapping for box size
- Reference field mapping for sku
- Shipping method type mapping
- Ship from location mapping
- Ship to location mappingCommon policies requiring alternate valuation models:
- High-Value Goods: Parcel Pro™
- UPS® Capital Elite™ for Vintners
Claim amount. $100
- This implies a $100 claim amount on each claim submitted.
Comments/explanation.Merchandise destroyed
- Comments are used on the claim form to help UPS® Capital see the reason for which a claim is filed.