In insurance, a total loss or write-off is a judgment, by the insurer, that the lost value or repair cost of a damaged property exceeds the value of its policy, resulting in what it concludes is a "total loss" or "constructive total loss" A constructive total loss factors other incidental expenses beyond repair, such as salvage. Policies covering homes, vehicles and other non-investment assets subject to depreciation typically pay the insured only a fraction of the cost of replacing the property, meaning they could become "total losses" even though some value remains. About one in seven car accident claims results in a "total". Totaled properties are usually demolished or torn down, scrapped, or recycled for parts after their policies are settled.