total loss



Destruction of an asset or property to the extent that nothing of value is left, and the item cannot be repaired or rebuilt to its pre-destruction state. Some types of insurance policies pay the maximum covered amount only in case of total loss.

Related Videos

Mentioned in these terms

Have a question about total loss? Ask for help in the
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z