A voyage insurance attaches from the moment the ship starts loading cargo or ballast. If the ship is neither to load cargo nor ballast, the insurance attaches from the moment the ship weighs anchor or slips its moorings in order to sail.
The insurance remains in effect until the ship has discharged its cargo or ballast at the appointed destination. If the assured fails to arrange for the discharge to proceed with reasonable speed, the insurance terminates at the time when the discharge operation should have been completed. If the ship is not to discharge either cargo or ballast, the insurance terminates when the ship has dropped anchor or is moored at a customary anchorage or mooring place.
If the ship, at the destination, starts loading cargo or ballast for a new voyage before discharging of the old cargo or ballast has been completed, the insurance terminates when the ship starts loading cargo or ballast.
If the voyage is abandoned after the insurance has attached, the place where the voyage ends shall be regarded as the destination.