Free Of Particular Average (fpa)


Definition of "Free of particular average (fpa)"

Catherine  Herrera real estate agent
Catherine Herrera, Real Estate Agent RE/MAX Homestead

Marine insurance contract clause that limits an insurance company's liability. The company agrees to pay only losses that exceed a percentage or flat dollar amount; partial (below this percentage or amount) losses are not paid. In essence, the principle is like the deductible feature of other policies.

 

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