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Total Loss

 

Condition of real or personal property when it is damaged or destroyed to such an extent that it cannot be rebuilt or repaired to equal its condition prior to the loss.

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Law Dictionary: Total Loss
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In insurance contracts, the destruction of property such that it is no longer useful for its intended purpose, 24 S.W. 2d 292, or which renders it of little or no value to the owner. 1 Mass. 264, 275.

 
 

 

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Insurance Dictionary. Dictionary of Insurance Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more
Law Dictionary. Law Dictionary. Copyright © 2003 by Barron's Educational Series, Inc. All rights reserved.  Read more