MLchartDataset catalogue

Constructive total loss

Term · Insurance and risk management · MLC-T-INS-000922

A situation where the cost to repair a damaged vehicle or property exceeds its actual cash value or a specified percentage of it, making repair economically impractical. While the property is not physically destroyed, the insurer deems it a total loss. This threshold is often set at 75% or 80% of the vehicle's value, depending on state regulations.

Table 1. Record
IdentifierMLC-T-INS-000922
FieldInsurance and risk management
SubjectCommercial Auto
Record as JSON 
{
  "id": "MLC-T-INS-000922",
  "term": "Constructive total loss",
  "field": "Insurance and risk management",
  "definition": "A situation where the cost to repair a damaged vehicle or property exceeds its actual cash value or a specified percentage of it, making repair economically impractical. While the property is not physically destroyed, the insurer deems it a total loss. This threshold is often set at 75% or 80% of the vehicle's value, depending on state regulations.",
  "subject": "Commercial Auto",
  "url": "https://mlchart.com/terminology/insurance/constructive-total-loss/"
}

Record 718 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.