actual total loss
- In marine insurance, it refers to a situation where the property, such as a boat or its cargo, is beyond repair or retrieval
- After the hurricane, the insurance company declared the ship an actual total loss.
- The freight contained in the ship was declared an actual total loss after it sank in last week's storm.
- The boat was deemed an actual total loss by the insurance company after the damaging fire.
Provide Feedback
