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670 Lafayette Ave, Brooklyn,
NY 11216

+1 800 966 4564
+1 800 9667 4558

4.1.3 Constructive total loss

A vehicle is considered written off in the event where cost of repairs exceed 50% of the vehicle agreed value. The insured surrenders ownership of the written off vehicle to the insurance company and get’s compensation as per the explained calculation here below.

Agreed value/ PAV: xxxxxx
Add towing: xxxxx
Less applicable excess: xxxxxx
Total amount: xxxxxx

• Vehicle should be towed to authorized salvage storage yards or approved garage for storage
• Total loss offer is issued based on PAV or Agreed Value as per policy terms
• Offer will indicate Salvage Value should the client wish to retain it
• If not interested in retaining salvage, client will transfer ownership of the vehicle to Britam, execute the offer and return it to head office alongside security documents for payment processing
• For items left at the garage, client should obtain garage checklist which should accompany the executed offer letter
• There are current changes at NTSA that are likely to affect total loss claims
• Insurance cease immediately we issue a total loss offer even if the client is retaining salvage

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