UPS Declared Value
The declared value does not correspond to an insurance. The declared value of your shipment indicates the maximum amount of UPS liability in the event of a lost or damaged package. UPS’s liability is up to $ 100 (or the equivalent in local currency) for parcels with no declared value. When you declare a value that exceeds 100 USD (or the equivalent in local currency), you do not have any form of insurance. Shippers, if they want merchandise insurance, all-risk insurance, or some other form of insurance, must purchase insurance from a third party.