Total Loss Definition
noun
An insurance contract concept that is said to exist if property is destroyed to the extent as to be no longer useful for the purpose for which it was intended, or that renders it useless and of no value to its owner.
Webster's New World Law
(accounting) An insured item of which the entire value is written off.
Wiktionary
Other Word Forms of Total Loss
Noun
Singular:
total lossPlural:
total losses
