Insurance. any damage or loss to a ship or its cargo voluntarily sustained, as freight jettisoned in a storm, by all parties to a voyage (distinguished from particular average). Abbreviation: G.A.
What’s The Difference: Average, Mean, Median, And ModeAs you probably know the terms average, mean, median, and mode are commonly confused with one another because they all describe ways to talk about sets of numbers.
Origin of general average
First recorded in 1690–1700
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for general average
insurance loss or damage to a ship or its cargo that is shared among the shipowners and all the cargo ownersAbbreviation: GA Compare particular average
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012