Glossary


Terms & Glossaries of Shipping and Trading

Insurance, Particular Average

A Marine insurance term which refers to partial loss on an individual shipment from one of the perils insured against, regardless of the balance of the cargo. Particular–average insurance can usually be obtained, but the loss must be in excess of a certain percentage of the insured value of the shipment,

usually three to five percent, before a claim will be allowed by the company.