What does Constructive Total Loss mean? Read on to discover the definition & meaning of the term Constructive Total Loss - to help you better understand the language used in insurance policies.
Constructive Total Loss
Constructive total loss (CTL) refers to damage to property that is calculated to be greater than the insurance limit when reviewing restoration or repair as options. It might even be assessed that the cost of restoration or repair can exceed the value of the property.
We hope the you have a better understanding of the meaning of Constructive Total Loss.