Use “actual total loss” in a sentence | “actual total loss” example sentences
1- An actual total loss occurs where the damages or cost of repair clearly equal or exceed the value of the property.
2- In the event of an actual total loss being paid the remains or salvage will be the property of the Corporation.
3- If the salvage is not economically worthwhile then it should be made clear to the Policyholder when the actual total loss is paid that the remains are their property and it is up to the Policyholder to dispose of them.
4- A separately insured item will be an actual total loss when the subject matter of insurance is destroyed or where the Policyholder is irretrievably deprived of the subject matter of insurance.
5- The insured can, by notice, claim for a constructive total loss with the insurer becoming entitled to the ship or cargo if it should later turn up. (By contrast an actual total loss describes the physical destruction of a vessel or cargo.)
6- The Policyholder may claim a constructive total loss when the subject matter of insurance is reasonably abandoned to the Insurer on the account of its actual total loss appearing to be unavoidable or because it could not be preserved from such actual total loss without an expenditure that would exceed its value when recovered/repaired.
7- The Policyholder may claim a constructive total loss when the subject matter of insurance is reasonably abandoned to the Insurer on the account of its actual total loss appearing to be unavoidable or because it could not be preserved from such actual total loss without an expenditure that would exceed its value when recovered/repaired.
Related Words:
a total of – sum total – grand total – total failure – make a total of – total disaster – total loss – actual total loss – constructive total loss – make the total of – add to the total – combined total – overall total – total number – running total –
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