total loss Meaning and Definition
Object reference not set to an instance of an object.
Object reference not set to an instance of an object.
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In insurance, a total loss or write-off is a judgment, by the insurer, that the lost value or repair cost of a damaged property exceeds the value of its policy, resulting in what it concludes is a "total loss" or "constructive total loss" A constructive total loss factors other incidental expenses beyond repair, such as salvage.
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