Actual total loss, constructive total loss and partial loss; tender of abandonment

What this document is

Magnum Marine Corp. v. Great American Insurance Co., 835 F.2d 265 (11th Cir. 1988) - actual total loss, constructive total loss and partial loss; tender of abandonment is a reference published by U.S. Court of Appeals, Eleventh Circuit (Florida, Georgia, Alabama) (opinion text via law.resource.org). It is one of the documents that insurance license exam questions are written from, including claims adjuster practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Magnum Marine Corp. v. Great American Ins. Co., 835 F.2d 265 (11th Cir. 1988) (opinion section on constructive total loss)

  “Consequently, we interpret the term "stage of her construction at time of loss" to require that the repaired vessel be capable of being sold for at least the boat's value at the time of the accident.”

• Magnum Marine Corp. v. Great American Ins. Co., 835 F.2d 265 (11th Cir. 1988) (definition under the policy)

  “Under the policy here, constructive total loss occurs when restoration costs exceed the boat's value at the time of loss. By default, partial loss occurs when constructive total loss does not.”

• Magnum Marine Corp. v. Great American Ins. Co., 835 F.2d 265 (11th Cir. 1988) (two distinctions)

  “First, if a constructive total loss occurs, the insured receives the boat's value without proof of particular damages. In contrast, recovery for partial loss requires proof of particular damages.”

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