Carriage and Insurance Paid To (CIP) is one of 11 Incoterms, a series of globally accepted commercial trade terms, most recently published in 2010 by the International Chamber of Commerce. BREAKING DOWN 'Carriage And Insurance Paid To (CIP)' Carriage and Insurance Paid To (CIP) is typically used in conjunction with a destination. So, for example, CIP New York would mean that the seller will pay freight and insurance charges to New York.