๐ข Logistics & Container
Cargo Insurance Premium Calculator
Marine cargo premium at CIF 110%. All calculations run locally in your browser โ free, instant and private.
๐ก๏ธ Cargo & terms
๐ก CIF = (FOB + freight) รท (1 - uplift ร total rate); 110% uplift is customary; policy date must precede the B/L date
โ Premium
CIF value
$52,204.18Insured amount
$57,424.59Base premium
$45.94๐ ICC conditions
Broadest cover: all risks except exclusions
Named perils: fire, explosion, grounding, sinking, water ingress
Minimum cover: total or partial loss from major events
Usually bundled with strikes cover, rated separately
๐ Cargo Insurance Guide
The embedded equation behind CIF 110%
Under CIF, insurance is embedded: CIF = (FOB + freight) รท (1 โ uplift ร total rate). The customary 110% uplift covers the buyerโs expected profit โ L/Cs usually require it. Total rate = base + war risk (mandatory on Red Sea / West Africa lanes).
The tool switches basis by term: FOB/CFR solve CIF from value + freight; CIF uses the value directly. The ICC reference explains All Risks (A), WPA (B) and FPA (C) โ cover level plus deductibles jointly determine the claims experience.
โ FAQ
Does the policy date matter?
It must precede the B/L shipment date โ backdated policies are the classic denial ground.
When is war risk required?
Suez/Red Sea and some West Africa/Middle East sailings enforce it; budget 0.03โ0.1%, fluctuating with conditions.