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Difference between actual andd costructive total loss |
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Answer» Explanation: Constructive total loss is when the PARTS of property are damaged for more than 75%, then it is deemed to be constructive total loss. ... In case of Motor INSURANCE, if there is actual total loss, you are being paid full IDV (Insured's declared VALUE) - wreck value. IDV is paid because there is no chance of any REPAIR. |
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