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LSDefine

Simple English definitions for legal terms

actual total loss

Read a random definition: Nuremberg defense

A quick definition of actual total loss:

Actual total loss is when something is completely destroyed or lost, and there is no way to get it back. This can happen to things like boats or houses that are insured. The insurance company will pay for the loss if it is covered by the policy. It is different from a partial loss, where only part of something is damaged or lost.

A more thorough explanation:

Definition: Actual total loss refers to the complete destruction or loss of value of an insured property, for which the insurer becomes liable. It can also refer to the failure to maintain possession of a thing.

Examples:

  • If a ship sinks or is irreparably damaged beyond recovery, it is considered an actual total loss in marine insurance.
  • If a car is completely destroyed in an accident, it is an actual total loss for the owner.
  • If a person loses their house due to a natural disaster, it is an actual total loss for them.

These examples illustrate how actual total loss occurs when the insured property is completely destroyed or lost, and the insurer becomes liable for the financial detriment caused by the loss.

actual taking | actual value

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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