What term describes a loss that is partially covered due to the sacrifice of some cargo to save the rest?

The term that describes a loss that is partially covered due to the intentional sacrifice of some cargo to save the remainder is known as General Average. This principle applies in maritime law and insurance, where if a ship faces a peril and some cargo is jettisoned to save the vessel and the remaining cargo, the loss of the sacrificed cargo is shared proportionately among all stakeholders based on the value of their cargo. General Average ensures that when a collective risk arises, all parties involved contribute to the loss in a fair manner, thus creating a cooperative approach to mitigating the impact of unforeseen and dangerous situations at sea.

In contrast, the other terms do not correctly capture this concept. A Partial Loss refers to a situation where only part of the insured property is lost or damaged—this does not involve the shared sacrifice aspect. A Deductible Loss refers to the amount that the insured must pay out of pocket before insurance coverage takes effect, which does not apply to this context of shared loss. Prorated Loss relates to the allocation of loss based on the time an insurance policy has been in effect but does not involve any form of collaborative sacrifice to save assets.