cargo,or both at the3.

same
time,
frominsured
real andisknown
risk. and
[SEC.the contemplated
If the
thing
a ship,
811,CODE OF COMMERCEvoyage
]
cannot be lawfully performed without incurring

either
the
insured
ofismore than three policy is one in

antheexpense
An
open
which
value
of to
the
thing
insured
Simple
or
particular
averages
shall
be
all
the
expenses
and
of the thing
abandoned
or a risk which a
agreed 2.
not
upon,tobuttheisfourths
left tothe
be value
ascertained
in
case
of loss.
damages
caused
vessel
or
to
her
cargo
which
have
not
prudent man would not take under the circumstances; or

[S
EC. 60]
inured
to the benefit and common profit of all the persons

interested in the vessel and her cargo. [SEC. 809, CODE OF

4. If under
the
being cargo
or freightage, and the
thing
In
estimating
a loss
an insured,
open policy
of marine

COMMERCE
]
cannot
performed,
another ship procured
the followingvoyage
rules are
insurance
to be be
observed
[SEC.nor
161]
by the master, within a reasonable time and with
1.
reasonable
to forward
the cargo, without
1. The value of a
ship
is its value diligence,
at the beginning
of the risk,
like expense
or risk
incurring

or the
charges
which add
to itsmentioned in the
a. including all articles
preceding
sub-paragraph.
But freightage
or whichatare
necessary
to prepare
itfrom
for cannot in any
Whenpermanent
a ship isvalue
prevented,
an
intermediate
port,
case be abandoned unless the ship is also abandoned.
the voyage
insured;
completing
the voyage,
by the perils insured against, the liability
2.
The
value
of
the
cargo
is its
actual cost
the are
insured,
of a marine insurer on the
cargo
continues
aftertothey
thus
when
laden
on
board,
or
where
the
cost
cannot
be
reshipped. The insurer, however, is not prevented from
ascertained,
market
at thebetime
and place
of
requiring
additional its
premium
if value
the hazard
increased
by this

lading,
adding
the
charges incurred in purchasing and
extension
of liability.
[S
EC. 133]
placing it on board,

but without reference to any loss

incurredto inthis
raising
money
for its insurer
purchase,
or to any
In addition
liability,
a marine
is bound
for
drawback
on
its
exportation,
or
to
the
fluctuation
of
the

damages,
discharging, storage, reshipment, extra
expenses of
market
at
the
port
destination,
or to expenses
ofexpenses
freightage,
and all other
incurred
in savingincurred
cargo

General
or
gross
average
include
all
the
damages
and expenses
on
the
way
or
on
arrival;
reshipped pursuant Sec. 133, up to the amount insured. [SEC.
which
are
deliberately
caused
in
order
to
save
the
vessel, her
3. The value of freightage is the gross freightage, exclusive
134]

without
reference
the cost interest
of earning
it; and is the extent to
The
measure
of antoinsurable
in property

b. of primage,
A constructive
total
loss
is
one
which
gives
to
a
person
insured
4. The cost ofwhich
insurance
is in each
case
be addedbytoloss
the or injury thereof.
the insured
might
be to
damnified
a rightvalue
to abandon,
under
Sec.
139.
[S
.
131]
EC
thus estimated.
[SEC. 17]
A
insured the
by
ameasure
contractof ofindemnity
marine in
insurance
may
In person
fire insurance,
an insurance

abandon
thing
insured,
or any
portion
thereof
against firethe
is the
expense
it would
be particular
to the insured
at the
time
separately
valued
by
the
policy,
or
otherwise
separately
of the commencement
of the fire to replace the thing lost or
insured,
and
recover
for
total at
loss
when
the cause
injured in the condition
in awhich
thethereof,
time of the
injury.
[SEC.

of
the
loss
is
a
peril
insured
against
[S
EC
.
139]:

171]
]

c.
than three-fourths
1. If more
thereof in value is actually lost,
or
would have to be expended to recover it from the peril;

d.
2.
If it is injured to such an extent as to reduce its value

more than
three-fourths;