total loss

/ˈtoʊtəl lɒs/

complete destruction or irreparable damage

The insurance company declared the car a total loss after the accident.

The car was so badly damaged that it couldn't be repaired, so the insurance company paid its full value.

formal

A situation where an asset is completely destroyed or damaged beyond repair, making it worthless.

The flood caused a total loss of the warehouse inventory.

The warehouse contents were completely ruined by the flood.

Commonly used in insurance to describe when the cost of repairs exceeds the asset's value.

Finance

A financial loss that cannot be recovered.

The company wrote off the investment as a total loss.

The company decided the investment was irrecoverable and stopped trying to recoup it.

Used in accounting and investment contexts.

Collocations

declare a total lossto officially state that something is irreparably damagedwrite off as a total lossto account for something as irrecoverable

damage that can be repaired

to account for a loss as unrecoverable

In insurance, 'total loss' means the asset is beyond repair and the insurer pays its full value.

A 'total loss' declaration can affect insurance claims and financial reporting.

From 'total' (complete) + 'loss' (damage or financial setback). Common in insurance and finance since the 20th century.

Often used in legal and financial contexts to describe irreparable damage or financial setbacks.

total

complete or entire

root

loss

damage or financial setback

root

English Dictionary