What is Particular Average? 

Particular average is a term that is often used in cargo insurance to describe a loss or damage to cargo that is not caused by a general average event. General Average is a term that refers to a situation in which the cost of saving a vessel or its cargo is shared equally among all parties that have an interest in the vessel or cargo. Particular average, on the other hand, refers to a loss or damage that is suffered by a specific party or parties, rather than being shared by all interested parties.

Particular average losses may be caused by a variety of events, such as accidents, fires, storms, or other types of perils. They may also be caused by the negligence or wrongdoing of a third party, such as a carrier or a warehouse operator. In order to be covered under a cargo insurance policy, particular average losses must be specifically listed in the policy language as a covered event. It is important for policyholders to carefully review the coverage provided by their cargo insurance policy in order to ensure that they are adequately protected against particular average losses.