Cargo insurance premium calculator
Insurers usually cover goods and freight plus a 10% uplift, and this calculator shows the insured value and the premium.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter goods value, freight cost, uplift on value, premium rate and minimum premium (optional).
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Insured value = (goods value + freight) × (1 + uplift). Premium = insured value × premium rate, and not less than the minimum premium.
Example
Inputs: Goods value = 20,000, Freight cost = 2,000, Uplift on value = 10 %, Premium rate = 0.3 %, Minimum premium (optional) = 0. Result: Insurance premium: 72.60; Insured value: 24,200.00; Premium as % of goods value: 0.363%.
Limits and caveats
- The premium rate is set by the insurer based on goods, route and cover type; ask for a quote for the real figure.
- A 10% uplift is the Incoterms minimum for CIF and CIP terms, and a higher one can be agreed.
Questions about this tool
Why add 10% to the value?
It covers expected profit and extra costs if the shipment is lost, and it is the usual figure in international trade.
Is cargo insurance mandatory?
Under CIF and CIP the seller must insure; under other terms the buyer decides, though it is wise for valuable shipments.
What is a minimum premium?
Many insurers charge a minimum per policy, so if the calculated premium is lower you pay that minimum.