bn:03684905n
Noun Concept
Categories: Insurance, Vehicle insurance
EN
total loss  Autos Katrina  Statutory write-off  total  Total-loss  write-off
EN
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. Wikipedia
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EN
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. Wikipedia
situation where a damaged property's salvage or repair cost exceeds its insured value Wikidata
An insured item that is written off when it is beyond repair, or when the cost of repair exceeds the insured value. Wiktionary
EN
The ship was declared a constructive total loss. Wiktionary
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