What is ‘general average’ and how does it affect my maritime injury claim?

General average is a legal concept used in maritime law to prevent a single party from facing disproportionate financial losses in certain situations. Generally speaking, it is a method of distributing losses among all parties involved when an incident occurs, whether it is caused by an accident or any other circumstance. In the context of a maritime injury claim in New Jersey, the general average principle is relevant when a vessel needs assistance due to a maritime accident involving personal injury. When a vessel is in distress or mutually threatened, the owner, insurer, and cargo owner may have to bear the expenses incurred in providing the assistance. In this situation, the owners of the vessel, its cargo, and the injured party will contribute the costs according to their relative interests in the voyage. For example, if an owner has a 25% interest in the boat, its cargo, and the injured party, then they will bear 25% of the costs related to the maritime accident. Overall, the general average principle is a legal doctrine that may be used to ensure that maritime parties involved in a maritime injury claim do not suffer financial losses that are disproportionately large. This is one of the key aspects of maritime law that all affected parties should understand for their maritime injury claims in New Jersey.

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What is ‘general average’ and how does it affect my maritime injury claim?

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