Meaning Of The Word General average

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What's the definition of General average? Find General average meanings, definitions and more at the Real Dictionary online.

General average Meaning

General average Definition
General average Definition

What's The Definition Of General average?

general average in American English
noun: any damage or loss to a ship or its cargo voluntarily sustained, as freight jettisoned in a storm, by all parties to a voyage (distinguished from particular average)

general average in British English
noun: loss or damage to a ship or its cargo that is shared among the shipowners and all the cargo owners

general average in Insurance
noun: General average is loss or damage to a ship or its cargo that is shared among the owners of the ship and cargo.

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