page_title: Total loss
hierarchical_section_title: Total loss
caption_attribution_description: English: The capsized Costa Concordia Italiano: Naufragio della Costa Concordia Information about Costa Concordia may be found at IMO 9320544.A ship can change name and flag state through time, but the IMO number remains the same through the hull's entire lifetime. As a result, it can be useful to identify a ship by using the IMO number.
context_page_description: 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.
context_section_description: 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.
caption: Even though only partially sunk in shallow water, in 2012 the relatively new cruise liner Costa Concordia was declared a "constructive total loss" due to escalating environmental and salvage clean-up costs.
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