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3. If the thing insured is a ship, and the contemplatedvoyage cannot be lawfully performed without incurringeither an expense to the insured of more than three-fourths the value of the thing abandoned or a risk which aprudent man would not take under the circumstances; or

4. If the thing insured, being cargo or freightage, and thevoyage cannot be performed, nor another ship procuredby the master, within a reasonable time and withreasonable diligence, to forward the cargo, withoutincurring the like expense or risk mentioned in thepreceding sub-paragraph. But freightage cannot in anycase be abandoned unless the ship is also abandoned.

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When a ship is prevented, at an intermediate port, fromcompleting the voyage, by the perils insured against, the liability

of a marine insurer on the cargo continues after they are thusreshipped. The insurer, however, is not prevented fromrequiring additional premium if the hazard be increased by thisextension of liability. [SEC.133]

In addition to this liability, a marine insurer is bound fordamages, expenses of discharging, storage, reshipment, extrafreightage, and all other expenses incurred in saving cargoreshippedpursuant Sec. 133, up to the amount insured. [SEC.134]

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General or gross average include all the damages and expenseswhich are deliberately caused in order to save the vessel, her

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cargo, or both at the same time, from real and known risk. [SEC.811,CODE OF COMMERCE]

Simple or particular averages shall be all the expenses anddamages caused to the vessel or to her cargo which have not

inured to the benefit and common profit of all the personsinterested in the vessel and her cargo. [SEC. 809, CODE OFCOMMERCE]

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The measure of an insurable interest in property is the extent towhich the insured might be damnified by loss or injury thereof[SEC.17]

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An open policy is one in which the value of the thing insured isnot agreed upon, but is left to be ascertained in case of loss.

[SEC.60]

In estimating a loss under an open policy of marineinsurancethe following rules are to be observed [SEC.161]

1. The value of a ship is its value at the beginning of the risk,including all articles or charges which add to itspermanent value or which are necessary to prepare it forthe voyage insured;

2. The value of the cargo is its actual cost to the insured,when laden on board, or where the cost cannot beascertained, its market value at the time and place oflading, adding the charges incurred in purchasing andplacing it on board, but without reference to any lossincurred in raising money for its purchase, or to anydrawback on its exportation, or to the fluctuation of themarket at the port of destination, or to expenses incurredon the way or on arrival;

3. The value of freightage is the gross freightage, exclusive

of primage, without reference to the cost of earning it; and4. The cost of insurance is in each case to be added to the

value thus estimated.

In fire insurance, the measure of indemnity in an insuranceagainst fire is the expense it would be to the insured at the timeof the commencement of the fire to replace the thing lost orinjured in the condition in which at the time of the injury. [SEC.171]

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