In Opencart I have insurance turned off, and am using an average dimension set to 5x5x5 (I understand the products dimensions are not used). The product weight is 4lbs. On the UPS site I have set these same settings, 5x5x5 and 4lbs, no declared value.
It's almost as if Opencart is using the Retail Rate and not the Negotiated Rate of my UPS Account.
Examples:
Opencart

UPS
