+A **Total Loss** is declared when the cost to repair a damaged asset, such as a [Vehicle](/wiki/vehicle), exceeds its market [Value](/wiki/value) or a predetermined percentage. This signifies the item is beyond economical repair, leading to a financial settlement rather than restoration.
+## See also
+- [Insurance](/wiki/insurance)
+- [Damage](/wiki/damage)
+- [Salvage](/wiki/salvage)
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