The A-Z House Insurance Guide.
When looking into buying house insurance it can be a bit daunting when you come across all the terminology involved. So we have compiled a guide to insurance terminology.
Click on the relevant letter that the term or word begins with and find out what it means.
W
Write-Off
This is most applicable to motor insurance and applies to circumstances whereby, following an accident or theft, a damaged car is not repairable. Or more to the point, that it is economically unviable to repair the car rather than replace it for a new one. This can also be called a "total loss". Often an insurance company will declare a car a total loss once damage reaches a specific percentage of the cars overall value.
