What does this mean?
 

"Buyer requires shipping insurance for 0% of price? Is this something that comes up automatically whenever an item gets sold if the buyer doesn't request insurance. I also assume that if the buyer requests insurance, the percentage will reflect what the buyers wants Is this correct?

Thanks

RE: What does this mean?
 

Your assumption is correct.

When a buyer posts their offer, they are given an option to specify whether or not they want the seller to insure the package, and if so, for what percentage of the selling price.

In this case, the seller stated they do not require insurance, hence 0% insurance required.