ups tracking insurance refers to the option of insuring packages sent via UPS shipping services. UPS offers shipping insurance through its “Declared Value” service, which provides coverage for packages in case of loss, damage, or theft. Customers can declare a value for their package, and UPS will provide insurance coverage up to the declared amount. This service is available for most UPS shipping services, including UPS Ground, UPS Next Day Air, and UPS 2nd Day Air. The cost of insurance depends on the value of the package and the shipping service used.