What is "With Average"?
"With Average" is a term used in marine insurance to refer to a type of insurance policy that covers partial losses to cargo or the vessel itself. With Average policies typically cover losses that are caused by a specific set of risks, such as damage from heavy weather, fire, or theft. With Average policies are different from "Total Loss" policies, which only provide coverage in the event of a complete loss of the cargo or vessel. The cost of a With Average policy can vary depending on the level of risk associated with the particular shipping route or cargo being transported.
