What is a presumed total loss and what does total loss mean

Presumptive total loss means that the actual total loss is unavoidable, or the salvage value of the damaged goods, if the sum of the costs of rescue, arrangement, repair and onward transportation to the destination exceeds the value of the goods at the destination, it is deemed to have been total loss. The presumed total loss is the symmetry of the "actual total loss".

The damage to the insured object is not completely lost, it can be repaired or recovered, but the cost will exceed the value of the insured object after rescue, so the gain outweighs the loss. In this case, the insurance company gives up its efforts to compensate the insured in full of the sum insured, which is a constructive total loss.

It means that after the loss of the goods, the actual total loss is considered unavoidable, or the sum of the expenses incurred to avoid the actual total loss and the cost of continuing to transport the goods to the destination exceeds the insured value.

Presumed total loss refers to a state or degree in which the insured object of insurance, such as ship, cargo and freight has suffered partial loss, but has not yet reached the actual total loss.

The following are presumed total losses: (1) the insured loses title to the insured of his ship or cargo, and the insured is unlikely to recover the ship and cargo, or the cost of repossessing the ship or cargo will exceed its value after recovery, depending on the circumstances; (2) In the case of damage to a ship, the cost of repairing the damage exceeds the value of the repaired ship after the insured hazard causes damage to the ship. When estimating the cost of repair, the share of the other parties in respect of the repair cost shall not be deducted, and the subsequent salvage cost and the share of the general average payable by the ship if the ship is repaired shall be taken into account; (3) In the case of damaged goods, the cost of repairing the damaged goods and continuing the goods to the destination exceeds the value of the goods arriving at the destination.

Presumed total loss is a definition relative to actual total loss. It means that the insured object is not completely lost after being damaged and can be repaired or recovered, but the cost will exceed the value of the insured object after being rescued, so in order to avoid the gains outweighing the losses, the insurance company will give up its efforts and give the insured full compensation of the insured amount instead.

In fact, the presumption of total loss means that the subject matter of insurance has not yet reached a state of complete damage or total loss after the occurrence of the insured event, but in fact the total loss is unavoidable. Or it can be said that the cost of repair and rescue will exceed the insured value and be considered a total loss.

The scope of application of the presumption of total loss is limited to the ship and cargo. Generally, when the cost of repairing the insured property is too high, it will be regarded as a constructive total loss; or when the insured loses possession of the insured property due to an insured peril and is unable to recover possession or wants to restore possession but the cost is too high, it will also be regarded as a constructive total loss; In addition, when the actual total loss seems unavoidable, so the insured property will be entrusted with the cost of preventing the actual total loss from exceeding the value of the insured property, it will also be regarded as a constructive total loss.

Full mold bridge loss refers to the total loss of a motor vehicle.

After the accident of the motor vehicle, the maintenance of the vehicle, the integration of the vehicle rescue, more than the original vehicle of the silver code liquid, you can apply to deal with the motor vehicle through a total loss, and the insurance company will directly pay the compensation to the owner, and the vehicle will be attributed to the insurance company.

Motor vehicle insurance can be purchased three months in advance, and three months in advance, which is beneficial to motor vehicle insurance.

If there is no escape, once the motor vehicle is out of danger, it will be illegal for the vehicle to drive on the road.

In the event of a traffic accident, the insurance company can refuse to make a claim.

Motor vehicle insurance needs to buy compulsory insurance, compulsory insurance is a motor vehicle must be purchased insurance, do not purchase compulsory insurance motor vehicles are not allowed to drive on the road. The other is commercial insurance.

Commercial insurance is determined based on the individual's use of the motor vehicle and may or may not be purchased.

Vehicle total loss insurance is a kind of protection for vehicle travel. After an accident, the insured person can see if this insurance will be compensated, whether the vehicle is damaged as a whole or severely, and whether it has lost its repair value. In these cases, the vehicle will be considered a total loss.

Vehicle Loss InsuranceVehicle Loss Insurance DeductibleVehicle Loss Insurance DeductibleVehicle Loss Insurance CompensationCurrent motor vehicle insurance is divided into compulsory traffic insurance, basic insurance and additional insurance. Among them, compulsory traffic insurance is enforced by the state, with a maximum compensation of 60,000 yuan. Basic insurance includes vehicle damage insurance and commercial third-party liability insurance.

Full vehicle theft insurance, vehicle personnel liability insurance.

Four. 1. The total loss of car insurance refers to the overall loss of the subject matter of insurance, or the serious damage of the subject matter of insurance, and the loss of repair value. or the repair cost of the insured vehicle reaches or exceeds the actual value at the time of the accident, which shall be designated as a total loss by the surveyor and the assessor.

In the case of total loss, the compensation shall be calculated according to the insured amount, but if the insured amount is higher than the actual value, the compensation shall not exceed the actual value at the time of the accident.

2. What are the "all-risks" in the usual sense included in the full coverage of automobile insurance, including compulsory traffic insurance, third-party liability insurance, and motor vehicle loss insurance.

Full car theft insurance, car liability insurance.

Glass breakage insurance, body scratch insurance and no deductible.

Special Terms, etc.

Insurance to buy "all insurance", you can get better compensation in common traffic accidents, but not all losses insurance companies can compensate, the policyholder should not be "all risk" as the name suggests, but should understand the types of insurance and read the provisions of the policy in detail.

First of all, the vehicle must purchase compulsory motor vehicle accident liability insurance.

Referred to as compulsory traffic insurance). Compulsory traffic insurance is a compulsory liability insurance that the insurance company compensates the victim (excluding the vehicle personnel and the insured) for personal and property losses caused by road traffic accidents caused by the insured motor vehicle within the liability limit.

Compulsory traffic insurance is compulsory insurance implemented by national laws, and its premiums are subject to a unified national charging standard. Secondly, you can choose to purchase some commercial insurance.

As a supplement to compulsory traffic insurance and protect the vehicle, people and property on board.

3. The amount of car insurance insurance is determined by the policyholder and the insurer from the following three ways, and the insurer bears the corresponding liability according to the different ways of determining the insurance amount:

1) It is determined according to the purchase price of the new car of the insured vehicle at the time of insurance. The purchase price of a new car in this insurance contract refers to the purchase of a new car (including vehicle purchase tax) that is noisy with the insured vehicle at the place where the insurance contract is signed.

Target**. 2) Determined according to the actual value of the insured vehicle at the time of insurance. The actual value in this insurance contract refers to the purchase price of a new vehicle of the same type minus the amount of depreciation**.

It means that the insured vehicle is damaged or seriously damaged as a whole and loses its repair value.

In this case, the insurance company will determine that the vehicle is a total loss. After the total loss car is approved by the insurance company, where can it be negotiated to trade, and the way to deal with the total loss car can be auction, and the total loss car basically flows into the second-hand car market. The total loss of the vehicle is valuable, so the factory can purchase the car and repair it by itself, the actual total loss can no longer be avoided, or the residual value of the damaged goods, plus the cost of rescue, sorting, repair, and continuation to the destination, exceeds the value of the car, it is deemed to have been lost.

When the vehicle is completely damaged, the insurance company will make a claim based on the actual situation. If the insured amount is higher than the actual value at the time of the accident, the calculation formula for the total loss car is: the actual compensation amount = (the actual value at the time of the accident - the residual value) (1 - free odds).

If the sum insured is equal to or lower than the actual value at the time of the accident, the compensation needs to be calculated according to the sum insured. It is calculated as follows: Actual Compensation = (Insured Amount - Residual Value) (1 - Free Odds).

1. The situation of the person who dresses up is different: the actual total loss refers to the actual complete deterioration or loss of the subject matter of the goods at sea during transportation, and the presumed total loss is the residual value of the damaged subject matter plus other costs and expenses that will exceed the value after it arrives at the destination;

2. The characteristics of the two are different: once the actual total loss occurs, you can directly claim compensation from the insurance company, and the premise of presumption of total loss is that the actual total loss has not occurred.

Marine insurance refers to the fact that after the policyholder pays the insurance premium, if the agreed subject matter suffers an accident at the agreed time and causes losses, the insurance company will pay compensation in accordance with the contract. Marine insurance originated in Italy at the end of the 11th century, and it is also a kind of property insurance, which can be divided into several forms: ship insurance, freight insurance, marine transportation cargo insurance, oil development insurance and protection liability insurance. Marine insurance shall follow the insurance contract signed by both parties when making claims, and shall pay compensation to the insured in a timely and reasonable manner.

Actual total loss refers to the complete loss of the insured goods due to natural disasters or accidents during transportation, or completely promote its original role.

Constructive total loss refers to the cost of repairing the damaged goods or the cost of transportation to the destination, which will be the cost of the goods at the destination**.

Presumed total loss refers to a state or degree in which the insured object of the ship, cargo and freight has suffered a partial loss in the event of an insured event, and has not yet reached the actual total loss. The following are presumed total losses:

1) The insured loses the insured's ownership of the ship or cargo, and the insured is unlikely to recover the ship and cargo, or the cost of repossessing the ship or cargo will exceed its value after recovery, depending on the circumstances;

(2) In the case of damage to a ship, the cost of repairing the damage exceeds the value of the repaired ship after the insured hazard causes damage to the ship. When estimating the cost of repair, the share of the other parties in respect of the repair cost shall not be deducted, and the subsequent salvage cost and the share of the general average payable by the ship if the ship is repaired shall be taken into account;

(3) In the case of damaged goods, the cost of repairing the damaged goods and continuing the goods to the destination exceeds the value of the goods arriving at the destination. Actual total loss, also known as "absolute total loss" or "actual average", is also a symmetry of "constructive total loss", that is, the loss of the insured property in material form or economic value.

Extended information: Four scenarios of actual total loss.

1) The subject matter of the insurance has been destroyed, such as the ship and cargo have sunk to the bottom of the sea and cannot be salvaged or the cargo has been destroyed by fire.

2) The destruction of the attributes of the subject matter of insurance, the original commercial value no longer exists, such as the loss of fragrance after tea is soaked in seawater, and the cement becomes lumpy after being soaked in seawater;

3) The insured is no longer able to recover the lost ownership, such as the ship and the cargo** are seized or seized, released indefinitely, or have been confiscated;

4) If the ship has been missing for a certain period of time, if there is no news for half a year, it can be regarded as a total loss. If the insured suffers an actual total loss, the insurer will pay the full amount of the insurance.

The main features of the presumed total loss.

In marine insurance, a presumed total loss is considered to be unavoidable after the occurrence of an insured event, or if the cost to be paid to avoid the actual total loss exceeds the insured value. Its scope is limited to ships and cargo, and the main features are:

1) The presumption of total loss is based on the premise that an insured accident occurs on the ship or cargo, resulting in a partial loss, but the actual total loss has not yet been formed. If the actual total loss has already occurred, or if part of the loss has not yet occurred, the presumed total loss does not apply.

2) The actual total loss of the vessel or cargo is unavoidable, or the cost required to avoid the actual total loss exceeds the insured value. The former refers to the fact that after the occurrence of an insured event, according to the objective situation, the ship will inevitably close or the actual total loss of the cargo will occur. The latter refers to the fact that after an insured accident occurs on a ship or cargo, although it can be rescued and repaired through measures, the cost paid exceeds the insured value, and the gains outweigh the losses.

3) Although the insured ship or cargo has not yet suffered an actual total loss.

Legal Analysis: Actual total loss refers to the complete loss of the insured goods due to natural disasters or accidents during transportation or completely promoting its original role. Presumptive total loss refers to the cost of repairing the damaged goods or the cost of transportation to the destination, which will cover the cost of the goods at the destination**.

Legal basis: Article 43 of the "Provisions on Procedures for Handling Road Traffic Accidents" Inspection, appraisal and evaluation institutions and personnel who accept the assignment or entrustment of the traffic management department of the public security organ or the entrustment of the parties shall complete the inspection, appraisal and assessment within the prescribed time limit. After the results of the inspection, appraisal and assessment are confirmed, a written conclusion shall be issued, which shall be signed by the person inspecting, appraising or assessing and affixed with the seal of the institution.