Loss vehicle definition

Loss vehicle means the damaged motor vehicle or a motor vehicle that the insurer determines is a "total loss."
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Loss vehicle means a vehicle damaged by collision or other occurrence, no longer capable of being repaired or cost to repair the vehicle is at least 70% of the retail market value. In case the sum insured is not less than 80% of the retail market value, either the Insured or the beneficiary shall transfer ownership of the vehicle to the Company and the Policy shall be considered terminated.
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Examples of Loss vehicle in a sentence

  • USAA’s records reflect that you likely received an Actual Cash Value Payment on a Total Loss vehicle, but the records maintained by USAA on your claim have not yet been reviewed to determine whether USAA included or did not include payment for sales tax.

  • Yes, if the ICBC claim involves a repairable unsafe vehicle then ICBC can cash settle the damage that meets the cash settlement requirements and issue a repair estimate (CL14) for the rest of the damage.Total Loss vehicle: No, if the ICBC claim involves a total loss or unsafe vehicle then ICBC cannot cash settle the damage.

  • Progressive further agreed to change its practice in Florida so that it will now include an amount for sales tax, calculated as the applicable state and local percentage of the adjusted Total Loss vehicle value without condition, in its Total Loss Claim Payments.

Related to Loss vehicle

  • Junk vehicle means a vehicle of any age that is damaged or defective in any one or combination of any of the following ways that either makes the vehicle immediately inoperable, or would prohibit the vehicle from being operated in a reasonably safe manner upon the public streets and highways under its own power if self-propelled, or while being towed or pushed, if not self-propelled:

  • Toy vehicle means any motorized or propellant-driven device that has no manufacturer-issued

  • Fleet Vehicle means one of a large group of New Vehicles sold to a Person (e.g., a rental car agency) which purchases in excess of ten (10) Vehicles per purchase contract for commercial use.

  • Tank vehicle means any commercial motor vehicle that is designed to transport any liquid or

  • goods vehicle means a motor vehicle constructed or adapted for use for the carriage of goods or burden of any description or a trailer so constructed or adapted;

  • Matured Vehicle as of any date means any Leased Vehicle the related Lease of which has reached its Maturity Date or has been terminated in connection with a Lessee Initiated Early Termination (and the Lessee is not in default under such Lease) or in connection with a Casualty Termination, which Leased Vehicle has been returned to the Servicer on behalf of the Titling Trust, if applicable.

  • Light vehicle means a motor vehicle commonly referred to as an automobile, van, sport utility

  • Custom vehicle means a motor vehicle other than a motorcycle that:

  • Rental Vehicle means a motor vehicle that is used for or by a person other than the owner of

  • Salvage vehicle means any vehicle which is within the last ten (10) model years and which has been damaged by collision or other occurrence to the extent that the cost of repairing the vehicle for safe operation on the highway exceeds sixty percent (60%) of its fair market value, as defined by Section 1111 of this title, immediately prior to the damage. For purposes of this section, actual repair costs shall only include labor and parts for actual damage to the suspension, motor, transmission, frame or unibody and designated structural components;

  • Commercial vehicle means a motor vehicle, trailer, or semitrailer used or

  • Rebuilt vehicle means any salvage vehicle which has been rebuilt and inspected for the purpose of registration and title;

  • Motorized Vehicle means a passenger car, station wagon, van, jeep-type automobile, truck, ambulance or any type of motorized vehicle used by municipal, provincial or federal police forces.

  • Transit vehicle means a bus, rapid transit vehicle, railroad car, street railway car, water vehicle, taxicab, or other type of public transportation vehicle or individual unit, whether operated singly or in a group that provides public transportation.

  • Low-speed vehicle means any four-wheeled electrically-powered vehicle, except a motor vehicle or

  • Gross vehicle mass or "maximum mass" means the technically permissible maximum laden mass as declared by the manufacturer.

  • Off-Road Vehicle means any vehicle while it is being operated on a road not maintained by a federal, provincial, state, or local agency, not including entrance or departure ways to private property, or any vehicle which cannot be licensed to drive on a public road and is designed and manufactured primarily for off-road usage.

  • Covered Vehicle means a private passenger vehicle (including mini-vans, pickup trucks and sport utility vehicles) which is registered or rented to You during Your Trip, which is rated ¾ ton in weight or less, not used for racing, dealer services, dealer loaners, taxi, limousine, shuttle, delivery, hauling, towing, road repair service, construction service, snow removal, or as a public livery vehicle, or any other commercial use.

  • Bi-fuel vehicle means a vehicle with two separate fuel storage systems that can run part-time on two different fuels and is designed to run on only one fuel at a time;

  • Nonroad Vehicle means a vehicle that is powered by a Nonroad Engine, fifty horsepower and greater, and that is not a Motor Vehicle or a vehicle used solely for competition, which shall include, but not be limited to, excavators, backhoes, cranes, compressors, generators, bulldozers and similar equipment, except that this term shall not apply to horticultural maintenance vehicles used for landscaping purposes that are powered by a Nonroad Engine of sixty-five horsepower or less and that are not used in any construction program or project.

  • Flex fuel vehicle means a vehicle with one fuel storage system that can run on different mixtures of two or more fuels.

  • School vehicle means any school bus, school van, other school vehicle and private vehicle used to transport students or staff members to and from school or any school-sponsored activity or event.

  • passenger vehicle means a motor vehicle (other than a motor cycle or invalid carriage) constructed solely for the carriage of passengers and their effects and adapted to carry not more than twelve passengers exclusive of the driver, and not drawing a trailer;

  • the vehicle means the vehicle that is specified on the licence granted under section 48 of the Local Government (Miscellaneous Provisions) Act 1976.

  • Gross vehicle weight means the weight of a vehicle without load plus the weight of any load on the

  • Hybrid vehicle (HV) means a vehicle equipped with a powertrain containing at least two different categories of propulsion energy converters and at least two different categories of propulsion energy storage systems.