Marine Cargo Insurance Calculator

The calculator first adds Cargo Value to Freight Cost to get the CIF value, then applies the Value Markup % (10% by default) on top of that. This reflects standard marine insurance practice of covering more than the bare cost of goods — the markup exists to also protect the anticipated profit that would otherwise be lost if a claim occurred.

They're the three Institute Cargo Clauses tiers, and this calculator prices them at different base rates against insured value: ICC-A ('all risk,' the broadest coverage) at 0.25%, ICC-B (named perils only) at 0.15%, and ICC-C (a restricted set of major casualties) at 0.10%. The rate difference reflects that broader protection costs proportionally more, though for most shipments the extra premium for upgrading to ICC-A is modest relative to the coverage gained.

The calculator enforces a $100 minimum premium floor — Total Premium is calculated as the greater of $100 or the computed base-plus-war-risk premium. Insurers rarely write a cargo policy for less than that regardless of how small the underlying calculated rate would be, so very low-value or low-rate shipments will show this floor rather than the raw formula result.

War Risk Premium (%) is additive on top of the base coverage premium and should only be nonzero if the cargo transits through a designated conflict zone or high-risk area, since standard ICC-A/B/C coverage typically excludes war-related losses. If your route doesn't pass through such a zone, leaving it at 0% is standard.

No — it's a rough planning figure calculated as 2% of the insured value, chosen because that's a commonly seen deductible level in marine cargo policies, not a universal or regulatory one. Actual deductibles are set by the underwriter and can vary by cargo type, trade lane, and claims history.