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Cargo Insurance Quoting and Reporting


UPS Capital and AscendTMS provide the first cargo insurance coverage for truckload, partial, and LTL shipments that can be purchased on a per load basis – ALL within your AscendTMS account! You can utilize this for Dollar 1 coverage or to provide excess liability coverage, whether you need it on a per load basis or for one shipper. Inside your AscendTMS account you can quote, purchase, and bind your cargo insurance coverage - getting proof of insurance in real-time for your customer!

The ability for users to get a quote and/or purchase cargo insurance directly from UPS Capital is a specific permission, within AscendTMS , that can be enabled or disabled by your Account Administrator in your Settings.

For more about UPS Capital, please view their website

Download the Summary of Coverage / Explanation of Benefits


See Getting a Quote for Cargo Insurance

See Accepting Quote for Auto-Purchase

See Confirming the Shipment

See Invalidate the Quote

See Saving the Quote for Later

See Add'l Insurance Reporting

See View Summary of Coverage / Explanation of Benefits

See Filing a Claim


Getting a Quote for Cargo Insurance

To retrieve a quote from UPS Capital without any delays, please ensure that your load includes the following information in the proper fields:

  • Customer and Carrier have been assigned to the load
  • Your Pickup and Delivery Locations are entered in your Edit Stops, including addresses within the US or Canada and a pickup date that is within the next 30 days
  • A Declared Load Value, Commodity and whether the goods are New/Used in the Load Basics

To begin, enter a value into the Declared Value on your Load Basics page here:

You will see a pop-up appear displaying an option to Get an Instant Cargo Insurance Quote from UPS Capital.  If Broker Features are enabled within your AscendTMS account, then the smart messaging will read:

If only Carrier Features are enabled within your account, the message will read:

Note: At the bottom of this modal, there is a checkbox option to turn off the auto-display whenever you enter a value in the Declared Value field here: 

Even when the checkbox is filled out, you will still have access to the message and ability to request a quote by selecting the “View Insurance Options” link which is located just below the Declared Load Value.

If the Declared Load Value is greater than $250,000, you will be directed to Contact UPS Capital, with the contact details shown here:

When you select “Get Cargo Insurance Quote” the pertinent load data will be sent to UPSC to retrieve a quote. When the quote is returned, it will be displayed in a modal like the one below:

You will now have the option to accept the quote and be automatically charged from your default AscendTMS  payment method when the shipment is en route, or you can opt to save the quote for purchase in the future. If you elect to save the quote for later, it will be saved with the load for you to revisit.

If you do not have the permission to “Purchase Cargo Insurance”, then clicking on the Accept/Auto-Purchase buttons will cause a red banner to appear letting the user know. In this case, the only action the user can perform is “Save Quote”, which will allow a different authorized user to purchase the quoted coverage later.


Accept Quote for Auto-Purchase

This option will use the credit card that is currently on file with AscendTMS and your UPS Capital cargo insurance policy will be purchased and bound at the time that the shipment is confirmed.

When you have selected “Accept Quote for Auto-Purchase when Shipment is Confirmed” 

You will see a confirmation window with UPS Capital's terms and conditions. Please read carefully and keep in mind that you may cancel the purchase of this insurance at any time prior to confirming the shipment:

Ensure that you have an accurate email address and have selected the number of hours before pickup date/time that you would like to receive an email reminder alert like this one:

When you select "When the shipment is confirmed, I agree to be charged for UPS Cargo Insurance" you will see an expense line item, labeled UPS Cargo Insurance, has been automatically added to the Load Financials here:

If you do not confirm the shipment, the policy will not be purchased, and the load will NOT be covered. If you want to Cancel your Purchase, you can do so from Insurance Reporting or from Load Financials by selecting "View Current Quote / Manage Coverage" shown below:

Once selected, you will see an option to "Cancel Auto-Purchase" here:

You will be prompted to confirm the cancellation and in doing so, the UPS Cargo Insurance expense line Item will be automatically removed. A log of this quote and cancellation of purchase can be found within your Load Log.


Confirming the Shipment

To confirm a shipment, one of three options must take place;

1) On the Financials Tab of the load, you select “Confirm Shipment and Bind UPS Cargo Insurance” shown below:

2) Log a check call from your Shortcuts menu or Load Actions, selecting the Status Description “Carrier Departed Pick-up Location with Shipment” shown below:

3) Navigate to Add'l Insurance Reporting and confirm the shipment from there:


Once the shipment has been confirmed, your UPS Capital cargo insurance purchase will automatically process, and the corresponding status will update to “Shipment Confirmed – Policy Active / Eligible for Coverage” like below:

Note: If you choose to purchase coverage and the current payment method on file with AscendTMS is declined, you will see the modal below – which allows you to enter a new credit card:

After you have entered your new card information, select “Confirm Shipment and Bind UPS Cargo Insurance” to complete your purchase.


Invalidate the Quote

This option will invalidate (ie. cancel/decline) the current quote you are viewing.

Additionally, if you have saved a quote for later and have not yet confirmed purchase, it is possible that the quote can automatically be “invalidated”. If you or another AscendTMS user makes a changes to the load that would do so, you will see an error banner and the quote will immediately be invalidated. 

These changes can include: Pick up or Delivery Date/Time changed outside of the 30-day window, Carrier on the load is removed/edited, Declared Load Value changes, Address on scheduled stop is changed to outside of the US or Canada.


Saving the Quote for Later

If you have opted to Save the Quote for Later, you will find the Saved Quote and be able to manage it from the Load Financials here:

The quote provided by UPS Capital is valid for 30 days and the “Valid Until” date is shown on the Insurance section of the Financials tab. AscendTMS  will check on a regularly scheduled basis whether the quote has expired or not.  If the quote has expired, the status of the current quote will change to “Invalid Quote, Need Re-quote” and a new quote will be required.  

By selecting “View Current Quote / Manage Coverage”, you can then Confirm your Purchase or Invalidate (Cancel) the Quote. You will also have the ability to manage the saved quote within Add’l Insurance Reporting.


Add'l Insurance Reporting

You will find Add’l Insurance Reporting under your Main Menu Reporting tab here:

You will then see Additional Cargo Insurance Reporting here:

You have multiple search criteria fields to use, including Cargo Insurance Quote Status at the top of the page. When you click into the field, you will be able to select from the following Quote Statuses below:

By entering the status "Quoted, Not Purchased" and the dates for the month I want to view shown here:

You can view all loads that currently have a Saved Quote and manage them below:

 


View Summary of Coverage / Explanation of Benefits

You can download the Summary of Coverage / Explanation of Benefits in the document list located at the end of this article below.


Filing a Claim

If you have to file a claim on a load that you have purchased cargo insurance for, you will first download the Claims Forms (see the "UPS Cargo Insurance Claim Form" below).  You can also view the "UPS Capital Claim Instructions" document below for step-by-step instructions. For additional information or to submit your claim, please contact UPS Capital by phone (855)-213-3864 or by email to ftwclaims@ups.com.

Summary_of_Coverage_-_Explanation_of_Benefits.pdf

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UPS_Cargo_Insurance_Claims_Form.pdf

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UPS_Capital_Claim_Instructions.pdf

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  1. Maria

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