Free Of Particular Average (fpa)

Definition of "Free of particular average (fpa)"

Michael  Disimone real estate agent

Written by

Michael Disimoneelite badge icon

Coldwell Banker Realty

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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