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of <h1>Constructive loss happens when property preservation costs exceed value or recovery becomes unlikely after insured peril</h1> Constructive loss occurs when insured property is reasonably abandoned due to unavoidable actual total loss or when preservation costs would exceed the property's value. Key conditions include deprivation of possession by an insured peril where recovery is unlikely or recovery costs exceed the property's recovered value. The Supreme Court clarified that constructive total loss definitions are subject to express policy provisions, and courts must give effect to specific insurance terms rather than general statutory definitions when policy clauses differ from standard provisions.
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