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Total Loss
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. Such a loss may be an "actual total loss" or a "constructive total loss". Constructive total loss considers further incidental expenses beyond repair, such as ''force majeure''. General principles In a total loss, the insurer must indemnify the assured in full, and ownership of the insured item thereby passes to the insurer under the legal process of "subrogation". Although the policy determines the level at which the loss becomes total rather than partial, nevertheless the assured (and NOT the insurer) has the final say as to whether he wishes to make a partial or total claim. If the insured item is, say, a car or a house, the policy will normally give it a "market value" which may be less than the assured had in mind; any disagre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fire Inside An Abandoned Convent In Massueville, Quebec, Canada
Fire is the rapid oxidation of a fuel in the exothermic chemical process of combustion, releasing heat, light, and various reaction Product (chemistry), products. Flames, the most visible portion of the fire, are produced in the combustion reaction when the fuel reaches its ignition point temperature. Flames from hydrocarbon fuels consist primarily of carbon dioxide, water vapor, oxygen, and nitrogen. If hot enough, the gases may become ionized to produce Plasma (physics), plasma. The color and Intensity (heat transfer), intensity of the flame depend on the type of fuel and composition of the surrounding gases. Fire, in its most common form, has the potential to result in conflagration, which can lead to permanent physical damage. It directly impacts land-based ecological systems worldwide. The positive effects of fire include stimulating plant growth and maintaining ecological balance. Its negative effects include hazards to life and property, atmospheric pollution, and water ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asfar V Blundell
Metzad (), also known as Asfar (אַסְפָר), is an Israeli settlement organised as a community settlement in the Gush Etzion settlement bloc in the West Bank. Established as by ultra-orthodox Jews in 1984, it is located south of Bethlehem in the eastern Judean Mountains, 14.5 km from the Green Line, outside the Separation Barrier. In January 2022 its population was 1110, up 35% from five years earlier. It falls under the municipal jurisdiction of the Gush Etzion Regional Council. History Metzad was established in 1984 by immigrants from the United States, the United Kingdom, South Africa and France. The settlement was built on the site of a Nahal paramilitary outpost called ''Nahal Asfar'' (named after a biblical place of the Maccabean revolt (1 Maccabees 9:33)) established in 1983, and which Palestinians state was confiscated from the village of Ash-Shuyukh. The first structures on Metzad were erected by the Israel Defense Forces's civil corps of engineers. They were h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Car Accident
A traffic collision, also known as a motor vehicle collision, or car crash, occurs when a vehicle collides with another vehicle, pedestrian, animal, road debris, or other moving or stationary obstruction, such as a tree, pole or building. Traffic collisions often result in injury, disability, death, and property damage as well as financial costs to both society and the individuals involved. Road transport is statistically the most dangerous situation people deal with on a daily basis, but casualty figures from such incidents attract less media attention than other, less frequent types of tragedy. The commonly used term car accident is increasingly falling out of favor with many government departments and organizations: the Associated Press style guide recommends caution before using the term and the National Union of Journalists advises against it in their Road Collision Reporting Guidelines. Some collisions are intentional vehicle-ramming attacks, staged crashes, vehic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accelerated Depreciation (automotive)
Accelerated depreciation refers to any one of several methods by which a company, for 'financial accounting' or tax purposes, depreciates a fixed asset in such a way that the amount of depreciation taken each year is higher during the earlier years of an asset's life. For financial accounting purposes, accelerated depreciation is expected to be much more productive during its early years, so that depreciation expense will more accurately represent how much of an asset's usefulness is being used up each year. For tax purposes, accelerated depreciation provides a way of deferring corporate income taxes by reducing taxable income in current years, in exchange for increased taxable income in future years. This is a valuable tax incentive that encourages businesses to purchase new assets. For financial reporting purposes, the two most popular methods of accelerated depreciation are the double declining balance method and the sum-of-the-years’ digits method. For tax purposes, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle
A vehicle () is a machine designed for self-propulsion, usually to transport people, cargo, or both. The term "vehicle" typically refers to land vehicles such as human-powered land vehicle, human-powered vehicles (e.g. bicycles, tricycles, velomobiles), animal-powered transports (e.g. horse-drawn vehicle, horse-drawn carriages/wagons, ox carts, dog sleds), motor vehicles (e.g. motorcycles, cars, trucks, buses, mobility scooters) and rail transport, railed vehicles (trains, trams and monorails), but more broadly also includes cable transport (aerial lift, cable cars and elevators), watercraft (ships, boats and underwater vehicles), amphibious vehicles (e.g. screw-propelled vehicles, hovercraft, seaplanes), aircraft (airplanes, helicopters, glider (aircraft), gliders and aerostats) and space vehicles (spacecraft, spaceplanes and launch vehicles). This article primarily concerns the more ubiquitous land vehicles, which can be broadly classified by the type of contact interface with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diminished Value
Diminished value or diminution in value are the terms generally used to describe the loss in a property's market value after it was damaged in an accident and repaired. Diminished value is most often associated with automobiles but it is applicable to other property of value including real estate or collectibles such as jewelry and artwork. If a property was damaged and repair failed to restore it to its original market value then said property has suffered diminished value. Unlike depreciation, which is an anticipated and predictable loss in value over time, ‘Inherent Diminished Value’ is a loss in value due to a specific, sudden and unexpected negative occurrence. Diminished value of an automobile following an accident may occur in one of two ways (or a combination thereof): (1) Inherent diminished value (2) Repair-related diminished value Inherent Diminished Value assumes proper repair has been completed and is defined as the amount by which the market value of the repaired ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle Title Branding
Vehicle title branding is the use of a permanent designation on a vehicle's title, registration or permit documents to indicate that a vehicle has been written off due to collision, fire or flood damage or has been sold for scrap. The designation or brand is mandatory in most provinces and states in North America when an insurer or vehicle owner writes off a vehicle as a "total loss". Typically this means the cost to repair the vehicle would equal or exceed the car's value, although legal definitions vary. Objectives The title branding programs typically have two objectives: #A deterrent to auto theft: If a vehicle is a complete loss due to an accident, its serial number (VIN, Vehicle identification number) and registration documents could still be of potential value to persons dealing in stolen cars. The diminished sale value of a title branded vehicle reduces the profitability of switching the registration and VIN from an accident vehicle to that of a stolen vehicle of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BMW - Write-off - 20-10-2006
Bayerische Motoren Werke AG, trading as BMW Group (commonly abbreviated to BMW (), sometimes anglicised as Bavarian Motor Works), is a German multinational manufacturer of vehicles and motorcycles headquartered in Munich, Bavaria, Germany. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 to 1918 and again from 1933 to 1945, creating engines for aircraft that were used in the World War II, Second World War. The company's automobiles are marketed under the BMW, Mini (marque), Mini and Rolls-Royce Motor Cars, Rolls-Royce brands, and motorcycles are marketed under the BMW Motorrad brand. In 2023, BMW was the world's List of manufacturers by motor vehicle production, ninth-largest producer of motor vehicles, and the 6th largest by revenue, with 2,555,341 vehicles produced in that year alone. In 2023, the company was ranked 46th in the Forbes Global 2000, ''Forbes'' Global 2000. The company has significant motor-sport history, especia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Salvage Title
In North America, a salvage title is a form of vehicle title branding, which notes that the vehicle has been damaged and/or deemed a total loss by an insurance company that paid a claim on it. The criteria for determining when a salvage title is issued differ considerably by each state, province or territory. In a minority of states and Canadian provinces, regulations require a salvage title for stolen or vandalized vehicles which are not recovered by police within 21 days. In such cases insurance companies declare a vehicle total loss and pay off the previous owner; but, in others, it is issued only for losses due to damage. Under some circumstances, a salvage title denotation may be removed or replaced with a ''Rebuilt Salvage'' designation; and cars imported to, or exported from, the United States may be issued a clean title regardless of history. Because a salvage title can be issued to a vehicle with easily repairable problems or no damage whatsoever, the low cost of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hail
Hail is a form of solid Precipitation (meteorology), precipitation. It is distinct from ice pellets (American English "sleet"), though the two are often confused. It consists of balls or irregular lumps of ice, each of which is called a hailstone. Ice pellets generally fall in cold weather, while hail growth is greatly inhibited during low surface temperatures. Unlike other forms of ice, water ice precipitation, such as graupel (which is made of rime ice), ice pellets (which are smaller and Transparency and translucency, translucent), and snow (which consists of tiny, delicately crystalline flakes or needles), hailstones usually measure between and in diameter. The METAR reporting code for hail or greater is GR, while smaller hailstones and graupel are coded GS. Hail is possible during most thunderstorms (as it is produced by cumulonimbus), as well as within of the parent storm. Hail formation requires environments of strong, upward motion of air within the parent thunderst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
AutoTrader
Auto Trader or AutoTrader may refer to: * Autotrader.com, an American automobile sales website * AutoTrader.ca, a Canadian automobile sales website * Auto Trader Group, a British automobile sales website * AutoTrader.co.za, a South African automobile sales website, which was previously a subsidiary of the Auto Trader Group * ''Auto Trader'' (TV series), television programme on the Discovery Channel in the United Kingdom {{Disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
