Hull & Machinery Insurance Calculator
Estimate annual H&M insurance from vessel value at the calculator’s 1% setting. Review hull cover, examples, required vessel details and optional war risk.
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CALCULATE. APPLY. TRACK.
Strait of Hormuz Insurance Calculator
The Strait of Hormuz calculator applies 5% to the insured vessel value and displays the selected coverage period. It is an indicative calculation, not a confirmation that the vessel or proposed transit has been accepted.
A clear Hormuz premium formula
Vessel value × 5% gives the indicative premium for the chosen period. A USD 1 million vessel produces USD 50,000; USD 5 million produces USD 250,000; USD 10 million produces USD 500,000. Select the period explicitly: a single transit, 12 months or a described custom period.
The calculator applies 5% once. It does not multiply by transit count, divide by days or guarantee availability for every selectable period. Confirm the permitted voyages, time window and geographic definition in the formal terms.
Prepare the transit information an underwriter needs
State planned entry and exit dates, route, vessel particulars, ownership and management, cargo and operational/security arrangements. Explain any anchorage, port call or waiting exposure rather than describing only the narrowest part of the passage.
Operational reporting is separate from insurance submission. UKMTO’s initial reporting format includes vessel identity, time and position, destination and security contact details; use the current official reporting arrangements where relevant.
Reference: UKMTO: initial vessel reporting information. This reference describes its own framework and does not establish MarineEnergyCover’s authority or the terms of an individual placement.
Keep annual hull and Hormuz periods visible
A USD 10 million vessel at the H&M calculator’s 1% annual setting gives USD 100,000. Its separate Hormuz component at 5% gives USD 500,000. If both are selected, the combined USD 600,000 is for the periods displayed; it is only an annual comparison if both selections are annual.
War-risk, hull damage, cargo interests and third-party liability are distinct cover considerations. A Hormuz estimate alone does not demonstrate that every exposure arising from the voyage is insured.
What this calculation cannot decide
The estimate does not approve the vessel, validate lawful trading or establish that a route is safe. Limits, deductibles, exclusions, cancellation terms, sanctions requirements and capacity must be checked in the actual placement. Provide current voyage details and report material changes before relying on agreed terms.
Common questions
Is the Hormuz 5% rate automatically annual?
No. It applies to the selected coverage period displayed beside the estimate. Only a 12-month selection is described as annual, and the period still requires acceptance.
Does the estimate confirm permission to transit?
No. Insurance calculation, underwriting acceptance and operational route decisions are separate. Check current official advisories and your agreed insurance terms.
Can I include H&M with the Hormuz estimate?
Yes. Select Hull & Machinery in the calculator and add the Hormuz option. It calculates the two components separately and preserves each coverage period.
Indicative premium estimate only. Final premium and coverage are subject to underwriting approval, vessel specifications, route, claims history, policy limits, deductibles, capacity availability and final policy terms.
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Vessel, cargo and war-risk estimates
Marine Cargo Insurance Calculator
Calculate a standard cargo premium estimate at 0.30% of cargo value. Understand valuation, transit periods, exclusions and the information needed to apply.
Calculate premiumWar Risk Insurance Calculator
Calculate marine war-risk premium using vessel value and your entered risk rate. Record the coverage period, route and assumptions for an underwriting enquiry.
Calculate premiumStrait of Hormuz Insurance Calculator
Estimate Hormuz war-risk premium at 5% of vessel value for the selected coverage period. Review transit information, separate H&M and application requirements.
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