Total Loss Definition ~ the Safeco way

May 14, 2013

Total loss

Applies to: auto, home, condo, renters, boat, classic car, motorcycle, RV and Landlord Protection® insurance.

A total loss is declared when the cost of repairs will be greater than the total current market value of your vehicle or property. Safeco works with an independent company to make this determination. Model, year, mileage, condition, options, school districts, land value, location and your local market area are all factors in deciding if your property or vehicle is a total loss. Sometimes a total loss is simply called totaled, as in “My car was totaled.”

Have more questions? Give us a call to discuss.

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JGS Advisors Insurance Group, LLC

7410 Preston Rd. Ste 123

Frisco, TX 75034

972 377 8900

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