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General

Total Loss

A total loss is a claim where the cost to repair a damaged item exceeds its current value. The carrier pays the item's value instead of funding repairs and takes the salvage.

A claim where the cost to repair the damaged item is higher than its current value, so the carrier pays the value instead of fixing it. Example: a six-year-old sedan worth $9,000 takes $11,500 in collision damage. The carrier declares it a total loss, pays you $9,000 minus your deductible, and takes the salvage.