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What is tlf in insurance?

Asked By: Adhira Maharaj

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Worked at Tata Steel Instrumentation Long Beach United States

If the TLT is not dictated by the state, an insurance company will usually default to something known as the Total Loss Formula (TLF) which is: Cost of Repair + Salvage Value > Actual Cash Value. Meanwhile, other states require insurance companies to use a specific formula when calculating total loss. See state car insurance rates and total-loss thresholds. If the settlement is less than what is owed, the insured will be responsible for paying the rest of the loan balance. Project description: Paper cut of family with house and car.


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