Total loss / Perte total after a collision
Total loss, also referred to as total loss or perte total (French) is a term used primarily in car insurance. With total loss, the situation is meant when a vehicle (or other object) can not be repaired after an injury economically. The term is usually used in Dutch as an adjunct provision ("the car is total loss") as opposed to in English, in which it is used independently ("the car is a total loss"). The terms "total loss" will generally be used in the policy terms. When total loss
The insurance company may determine a definition for when a car is considered "total lost". Usually a car is lost when the daily value after the damage plus the repair costs is higher than the daily value before the damage. This is due to the fact that the car reduces the value in value and reduces the depreciation on the amount of the repair costs. The value of the car in economic traffic immediately before the damage, either the price to be paid for a similar car, also called day value, is the maximum. The depreciation may not exceed that day value. In case of total loss, the insurance company will reimburse the difference between the fair value before and after the damage. The daily value is determined by an injury expert. The insured will have to take care of the sale of the (damaged) car. In practice, the injury expert takes care of this. Incidentally, the total loss rule is also applied to other things with a daily value, such as boats and buildings. Shapes of total loss
Total loss
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