total loss

English

Noun

total loss (plural total losses)

1. (accounting) An insured item of which the entire value is written off
2. (insurance) An insured item that is written off when it is beyond repair, or when the cost of repair exceeds the insured value.

   The ship was declared a constructive total loss.

Related terms

• write-off

Descendants

• Hebrew: טוטל לוס (totál los)

Translations

insured item written off

• Norwegian:

  Bokmål: totaltap n

  Nynorsk: totaltap n

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