Definition of General Average
click on the quotes tab for a quote from us
If a cargo ship’s master voluntarily sacrifices the cargo, equipment or funds from the ship to save the voyage, then all parties involved in the venture (including all cargo owners) are required to make a proportional contribution to cover the costs incurred.

What happens to the cargo that wasn’t sacrificed?

When a General Average is declared by the ship’s master the cargo would not be released until the cargo owners put up a cash bond or the cargo insurers put up a General Average guarantee.

Do I need to worry about General Average?

Statistics show importers will be involved in a General Average claim once every 8 years!

General Average is included in full in every policy arranged by JRI.

If you purchase your cargo insurance through a carrier, you are most likely not covered for General Average, unless it was purchased separately.