Shipping, Tax and Insurance
 
Insurance Guide

  1. Quick Setup (Step-by-Step)
  2. Advanced Options
  3. Insurance Options
  4. Frequently Asked Questions
  5. Glossary

Insurance – A Quick Guide

Insurance allows you, as the merchant, to make available to your clients, insurance options which they may purchase at an additional cost to insure their purchase from any damage or loss during Insurance. Setting it up with MonsterPay will give you itemized billing, and leaves total purchase calculations up to MonsterPay.

Quick Setup (Step-by-Step)[index]

After navigating to your Insurance you will arrive at the main screen. 

This screen shows you all the available currencies in which you may trade on MonsterPay. It also displays all currently set up Insurance Methods. To create a new insurance method, click on Add Insurance button.   

image0001
image0002 To create a new Insurance method the following information is required, all fields are required:
  • Name: The name of your Insurance type (example: Global Insurance)
  • Description: The description of your Insurance type (example: Insurance for any International Shipment)
  • Fee: The default fee for this insurance type.

After you have given all the information simply click finish to complete setup. Your Insurance Method is now working and available to your clients. 

Note: If you did not select to make use of the default Fee, then your Insurance Method will not work, you will first need to specify an Insurance Option.

Advanced Options[index]


To view an existing Insurance Method, select it by clicking on its name, description, method or pencil icon next to it. Advanced Options allows you to modify an existing insurance method. It allows you to change the name, description, default fee, enable global insurance, and add and remove specific Insurance Options.
 
image0003 The following fields can be edited: 
  • Name: The Name of your Insurance Method
  • Description: The Description of your Insurance Method
  • Use Universal Option: Specifies if you wish to have a default Fee for this Insurance Method which will be imposed on all countries
In addition to editing the Insurance Method you can also add an Insurance Option. Insurance Options specify different criteria on which to impose the insurance. (Example: If you have a different fee for clients from Mongolia, you will create an Insurance Option to reflect this.)

Adding A new Insurance Option:

You are required to add the country and the fee for the new Insurance Option. The following fields input fields exists for a new Insurance option:

  • Country (Required): The Country for which this fee is to be imposed on.
  • State: The State if any, for which this fee is to be imposed on. Leave Empty if this option is for any State within the Country.
  • City: The City if any, for which this fee is to be imposed on. Leave Empty if this option is for any city within the State.
  • ZipCode: The ZipCode if any, for which this fee is to be imposed on. Leave Empty if this option is for any zipcode within the City. 
  • Fee (Required): The fee, which will be used for this specific Insurance option.
After you have added this Insurance Option you will see it listed under the Insurance Method in its Advanced Options section, where you can edit its values, or remove it permanently.

Insurance Options[index]

An Insurance Option is a specific instance in which your Insurance will be applied and is added under an existing Insurance Method. An Insurance Option allows you to specify a country, state, city and zip code on which the Insurance Method will be imposed.

An Insurance Option is composed of 5 fields:

  • Country: The Country which the Insurance Option is for.
  • State: The State which the Insurance Option is for.
  • City: The City which the Insurance Option is for.
  • ZipCode: The Zipcode which the Insurance Option is for.
  • Fee: The Fee which will be imposed on those who meet the criteria of the Insurance Option.

Frequently Asked Questions [index]


How is Insurance calculated on my products?
Insurance is on flat fee which you make available to your clients. Remember that clients are not obligated to buy insurance, and may decide to ship their purchase without insurance coverage.

How many types of Insurance can I impose on a single basket?
Although you are allowed to add more than 1 Insurance Type, a client will be allowed to choose only 1 Insurance option.

What is Universal Insurance the Universal Fee, the Global Fee or the Default Fee?
The Universal Insurance option allows you to impose the Insurance fee on any countries not currently specified in the Insurance Method’s Insurance Options. If for example you have a flat-rate for any Insurance globally, you need merely enable universal Insurance, and it will be applied to all your clients, instead of forcing you to add the same Insurance amount for each and every country in the world.

What happens if I do not wish to use the Universal Fee?
If you do not use the Universal Fee; Insurance will only be calculated and made available for countries which you have specified for the Insurance. If you have for example only specified South-Africa in the Insurance, someone with a delivery address which is not listed as South-Africa will not be given the Insurance option.


Glossary of Terms[index]


Insurance Method: The Insurance Method is the actual Insurance which will be imposed on a client’s purchase.
Insurance Option: The Insurance Option is a sub-set that allows you to narrow down specific instances of clients Insurance, allowing you to narrow down the Country, State, City, Zipcode, Fee.

Related Topics:

  Shipping Guide

  Setup Bulk Shipping

  Tax Guide

  Setup Bulk Insurance

  Setup Bulk Tax