Partial loss of such significance that the cost of restoring damaged property would exceed its value after restoration. For example, an automobile is so badly damaged by fire that fixing it would cost more than the restored vehicle would be worth.
Constructive Total Loss
| Insurance Dictionary: Constructive Total Loss |
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 | Abandonment Clause (insurance term) |
| HMS Gnat (T60) |
| Marine Insurance Act 1906 |
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 | Insurance Dictionary. Dictionary of Insurance Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved. Read more |
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Mentioned in
- Abandonment Clause (insurance term)
- HMS Gnat (T60)
- Marine Insurance Act 1906
- CTL
