Property damage (PD) loss that is treated as a total loss because the cost of repairing the damaged property exceeds the value of the property.

A partial loss of such severity that the cost of repairing the damaged property plus salvage value is more than the property is worth in a repaired state.

see loss

Constructive Total Loss occurs when a vessel or cargo is so damaged that an actual total loss is inevitable. It is the situation where the part or remnant remaining can only be recovered and repaired [..]

Term used when damage to property is more than the value of the property

The position which exists when the cost of repairing or recovering lost or damaged property plus the value of the salvage would exceed the property's value when repaired or recovered.

Partial loss of such significance that the cost of restoring damaged property would exceed its value after restoration. For example, a car is so badly damaged by fire that repairing it would cost more [..]

Partial loss of such significance that the cost of restoring damaged property would exceed its value after restoration. For example, a car is so badly damaged by fire that repairing it would c [..]

The position which exists when the cost of repairing or recovering lost or damaged property plus the value of the salvage would exceed the property's value when repaired or recovered.

A partial loss of sufficient degree to make the cost of repairing more than the property is worth.

Where the assured abandons the subject matter insured to the underwriter and claims a total loss. He can do this when an actual total loss appears to be inevitable or when he is deprived of the insure [..]

Position which exists when the cost of salvaging the lost or damaged property is too high relative to the value saved. In such instances, the property has lost its total usefulness so as to render it valueless to the insured.

Term used when damage to property is more than the value of the property

Term used when damage to property is more than the value of the property

the cost of a boats recovery and repair exceed the insured value.

An insurance claim which is settled for a full amount, on the basis that the cost to repair or recover the damaged property, would exceed the indemnity replacement cost or market value of the item.

An insurance claim which is settled for a full amount, on the basis that the cost to repair or recover the damaged property, would exceed the indemnity replacement cost or market value of the item.

A partial loss of sufficient degree to make the cost of repairing the damaged property more than the property is worth (e.g., an old automobile might suffer damage that can be repaired, but the cost o [..]

A constructive total loss arises where the vessel is reasonably abandoned to the insurer by the insured on account of its actual total loss appearing unavoidable or because it could not be preserved f [..]

A constructive total loss arises where the vessel is reasonably abandoned to the insurer by the insured on account of its actual total loss appearing unavoidable or because it could not be preserved f [..]