What does total loss vehicle return mean?

[LilahRose]

Total loss return refers to the refund of all costs. Total loss generally refers to the total loss of a vehicle, meaning that actual total loss is unavoidable, or the residual value of the damaged goods, plus the costs of rescue, sorting, repair, and continued transportation to the destination, exceeds its value upon arrival at the destination. In such cases, the insurance company abandons further efforts and compensates the insured with the full insured amount, which is considered a constructive total loss. Below is relevant information: Total loss: Total loss occurs when repair costs exceed the vehicle's current actual value, but the vehicle still holds value. Therefore, the factory can purchase the vehicle, repair it themselves, and then sell it as a used car. Repairable or recoverable: Actual total loss means the insured object is not completely destroyed and can be repaired or recovered, but the cost would exceed the value of the rescued insured object, making it not worthwhile. In such cases, the insurance company abandons further efforts and compensates the insured with the full insured amount, which is considered a constructive total loss.