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Insured Value

Insured Value = Cargo Cost + 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 Calculation

No Inland Transit Premium Rate (TLO)
(1) General Cargo One trip (from starting point to ending point) 0.14%
From Border to Border 0.14%
(2) Dangerous Cargo (Petro, Diesel, Gas, etc…) 0.28%
(3) Fragile Goods 0.80%

Policy Term

Single Voyage