How does Marketplaces calculate insurance?
In Sales > Shipping > Account Insurance Rates view, you have the following setting: Use a base insurance rate per order of $X Add to the insurance charge $Y for each $100.00 of invoice subtotal above $Z Insurance is calculated as follows: X +(((Invoice Subtotal – Z) / 100) Y) = Insurance Rate For example: $1.30 base, $0.90 per extra 100 over $0.01 Invoice Subtotal $300 1.30 +2.70 (((300 – 0.01) / 100) 0.90) = $4.00 insurance rate Insurance is a calculation of the base rate plus a prorated amount of the additional insurance based on the additional amount for every 100.00 over a specified invoice subtotal.
