Hull & Machinery - Insurance Premium Estimate
Annual H&M insurance premium estimate from hull value, deductible and ship-type risk class - the basic Lloyd's quotation input.
Gross premium
400,000USD
Net premium
350,000USD
Formula, assumptions, and limits
$$P = V \cdot r - \text{deductible credit}$$
Rate 0.3–1.5 % depending on claims record, trading area, age. Bigger deductible → lower premium. Excludes war, P&I, freight. Retrocession market behind primary underwriter.
Symbol legend
| Symbol | Meaning | Unit | Source |
|---|---|---|---|
| $V$ | Hull value | USD | valuation |
| $r$ | Annual rate | % | market / broker quote |
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