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Insured Value

Insured Value = C (cargo value) + 10%

Premium

Premium is calculated on insured value (C+10%) and the rating varies according to the type of cargo, voyage and the season of the trip.

Premium Rate
No Marine Cargo (Inland) Premium Rate (TLO)
(1) General Cargo Inland Waterway 0.14%
Coastal (Summer) 0.28%
Coastal (Monsoon) 0.56%
(2) Dangerous Cargo (Petrol, Diesel, Gas, etc...) Inland Waterway 0.28%
Coastal (Summer) 0.42%
Coastal (Monsoon) 0.84%
*Additional Cover (Port Overdue Fee) 10% of Basic Premium
The monsoon period starts from May 1 to October 15 every year.