Definitions for "TOTAL LOSS"
The complete loss or destruction of all the property insured under a particular policy. Under Marine insurance, it is quite common to find a Total-loss-only insurance.
Property damaged to the extent that the cost of repairs exceeds the market value less the salvage value.
An insurance company declares a vehicle a total loss when a claim exceeds the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles. CARFAX receives Canadian total loss information from the Insurance Bureau of Canada. A Canadian vehicle declared a total loss often requires a technical inspection before it can return to the road.
Keywords:  perte, whole, claim, covered, amount
(Perte totale) A claim for the whole amount covered by the insurance.
Keywords:  slate, opportunity, clean, start, over
an opportunity to start over with a clean slate