What are ICC clauses A, B, and C?

The Institute Cargo Clauses define cover levels. Clause A is all-risks and the broadest, Clause B covers named major perils, and Clause C is the most restrictive, covering only major casualties like fire, sinking, or collision. Broader cover carries a higher rate.

Why is the insured value CIF plus 10 percent?

The standard market convention insures CIF value plus a 10 percent uplift to cover the importer's anticipated profit and incidental expenses if the goods are lost. This calculator applies that uplift automatically before rating.

What is a rate per mille?

Marine cargo rates are usually quoted per mille, meaning per thousand of insured value. A rate of 3 per mille is 0.3 percent, so a 100,000 insured value would cost about 300 in premium before minimums.

Does commodity type really change the rate?

Yes. Fragile, perishable, theft-prone, or high-value commodities attract higher rates than rugged general cargo because they are more likely to suffer a claim. The commodity band in this tool reflects that risk loading.

Is this a binding quote?

No. These are indicative market rates for budgeting. Actual premiums depend on the insurer, loss history, packing, route, deductibles, and minimum premium, so always confirm with your broker before relying on a figure.

Cargo Insurance Premium Estimator

Marine cargo premiums are quoted as a small rate applied to the insured value, but the rate swings with how broad the cover is, what you are shipping, and by which mode. This estimator combines those factors over the customary CIF plus 10 percent insured value to give a realistic premium for budgeting a shipment.

How it works

The insured value gets the standard uplift, then a blended rate is applied:

insured value = CIF × 1.10
rate per mille = base(clause) + commodity loading + mode loading
premium        = insured value × rate per mille / 1000

Clause A carries the highest base because it is all-risks; commodity and mode loadings add for fragile, perishable, or theft-prone goods and for higher-risk transport modes.

Example and tips

A 100,000 CIF general-cargo ocean shipment under Clause A insures 110,000. At a blended rate of about 3.2 per mille the premium is roughly 352. Switching to the restrictive Clause C drops the base rate and the premium, but leaves you exposed to partial losses — only narrow cover if the cargo is genuinely rugged. Always check the insurer’s minimum premium, which often overrides the calculated figure on small shipments.