Description
insuredBase = goodsValue, adding freight only when includeFreight; premium = insuredBase*rate.
Historical price series need compatible quantities, quality, dates and currency conventions. Rebasing or splicing a series changes its numerical scale without resolving source comparability or proving a change in living standards.
insuredBase = goodsValue, adding freight only when includeFreight; premium = insuredBase*rate.
When to use this tool
Use Historical Shipping Insurance Premium Term when checking a supplied historical price or index transformation.
How to use the tool and how it works
- Enter goodsValue, freight, rate, includeFreight. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read insuredBase, premium. Use the output convention below.
Require nonnegative goodsValue, freight and rate. insuredBase = goodsValue, adding freight only when includeFreight; premium = insuredBase*rate.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| goodsValue | Goods Value | Required. Finite number; minimum 0. |
| freight | Freight | Required. Finite number; minimum 0. |
| rate | Supplied rate on the declared period or quantity basis; percentage conversion is not inferred. | Required. Finite number; minimum 0. |
| includeFreight | Include Freight | Required. Boolean. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| insuredBase | Insured Base | Required. Finite number. |
| premium | Premium | Required. Finite number. |
{
"input": {
"goodsValue": 1000,
"freight": 200,
"rate": 0.05,
"includeFreight": true
},
"output": {
"insuredBase": 1200,
"premium": 60
}
}Limitations and assumptions
- Rate is a fraction, not percentage. This is a supplied insured-value convention without coverage terms, routes, risk pricing or actual insurance obligations.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Verify the original quotation basis and comparable series concepts, and use appropriate historical evidence for quality and unit adjustments.
References
Similar or alternative tools
- Historical Share Quoted PAR Value Gap
marketPrice = parValue*quotePercent/100; paidCapital = parValue*paidFraction; premiumToPaid = marketPrice-paidCapital.
- Historical Price Unit Factor
targetUnitPrice = quotedPrice*targetQuantity/sourceQuantity; provenanceKey = JSON.stringify([source,dateLabel,commodity]).