Trade Risk Guaranty is an industry’s expert in U.S. importing solutions located in Bozeman Montana 59718

What is general average?

Definition of General Average

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 TRG Marine™ all-risk policy.

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

A General Average case can take 4 years to clear up!

Get a quote today for an all-risk annual policy and have peace of mind that you are covered in full!

Learn more about TRG Marine’s ™ aggressive, in-house claims.