What is Constructive Total Loss?
What is Constructive Total Loss?
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.Originally Posted by Nilesh
Make someone smile today!
| PolicyWala Rules | Register Free | Always TAG your threads | Like us at Facebook | Follow PolicyWala at Twitter | Tips for Writing Queries |
Reply With Quote
