Australian Capital Territory Current Acts Australian Capital Territory Current ActsFor this division, a vehicle is a total loss if the vehicle has been damaged by any event to the extent that its fair salvage value plus the cost of repairing the vehicle for use on a road or road related area would be more than its fair market value immediately before the event that caused the damage.
Examples of events that may damage a vehicle
collision, fire, flood, accident, trespass, dismantling and demolition