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

  • 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.

  • 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.

Related to Loss vehicle

  • Tank vehicle means a commercial motor vehicle that is designed to transport any liquid or gaseous materials within a tank or tanks having an individual rated capacity of more than one hundred nineteen gallons and an aggregate rated capacity of one thousand gallons or more that is either permanently or temporarily attached to the vehicle or chassis. A commercial motor vehicle transporting an empty storage container tank not designed for transportation with a rated capacity of one thousand gallons or more that is temporarily attached to a flatbed trailer is not considered a tank vehicle.

  • 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;

  • 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:

  • 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.

  • 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 named in the licence.

  • 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.