MRPInsuranceNegotiable
Marine / Cargo Insurance Premium Rate
The premium rate for marine cargo insurance covering loss or damage during sea or air transport. Rates vary by cargo type, voyage route, packaging quality, and claim history.
Ad Valorem
Category:Basic Shipping FeeChina Export Local ChargesDestination Import Charges
Applies to:
FCLLCLAirRailCourierRoadFBAAs Request
Typical Cost Range
0.05%–1%
of customs value (CIF)
Standard cargo: 0.05-0.30% of insured value. Electronics/fragile: 0.30-0.80%. Hazardous/dangerous goods: 0.50-1.50%.
Who Pays?
Shipper (When CIF, DAP)
Consignee (When EXW, FOB)
Negotiability
Negotiable — discuss with your freight forwarder.
Marine insurance rates are highly negotiable. Open cover policies (annual) typically offer 20-40% discounts over per-shipment rates.
Adjustment Frequency
MonthlyWeeklyFixed
Current rate reviewed: Per shipment
Chargeable Unit
% of CIF
Formula / Calculation
MRP = Cargo Value × Insurance Rate % × Coverage Level (typically 110% of CIF)marine insurancecargo insurancepremiumall risks
Frequently Asked Questions
What coverage should I buy for marine insurance?
Standard All Risks coverage is recommended for most cargo. Specific exclusions apply: war, strikes, inherent vice, improper packing.
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