Totaled
Totaled (Glossary Word)
When damages to a vehicle exceed the actual cash value. In a loss covered by insurance, the insurance company would normally make a payment equal to the vehicle's actual cash value and would retain the salvage rights (i.e., keep the 'totaled' vehicle).
Other users also searched for some of the following glossary words.
Similar Glossary Words
How much would it cost to replace your home's contents? Do you need to customize your insurance to protect valuable items? Find out with our wizard. 