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What (who) is written off - definition
SITUATION WHERE A DAMAGED PROPERTY'S SALVAGE OR REPAIR COST EXCEEDS ITS INSURED VALUE
Autos Katrina; Totaled; Total-loss; Statutory write-off
!["America"]] was completely written off after its forced ditching in the Atlantic in June 1927. Byrd and three others survived. The original destination [[Paris]] was socked in by fog making a landing impossible at LeBourget. Souvenir hunters stripped the aircraft of its fabric skin and other components.](https://commons.wikimedia.org/wiki/Special:FilePath/L'America Ver sur mer.jpg?width=200 "\"America\"]] was completely written off after its forced ditching in the Atlantic in June 1927. Byrd and three others survived. The original destination [[Paris]] was socked in by fog making a landing impossible at LeBourget. Souvenir hunters stripped the aircraft of its fabric skin and other components.")
Totaled
·add. ·Impf & ·p.p. of Total.
write-down
REDUCTION IN RECOGNIZED VALUE OF AN ENTITY
Write down; Goodwill writedown; Written off; Write-down; Writeoff; Writedown; Writedowns; Totalled; Write off; Tax write-off; Tax writeoff
¦ noun Finance a reduction in the estimated or nominal value of an asset.
write-off
REDUCTION IN RECOGNIZED VALUE OF AN ENTITY
Write down; Goodwill writedown; Written off; Write-down; Writeoff; Writedown; Writedowns; Totalled; Write off; Tax write-off; Tax writeoff
(write-offs)
1.
Something such as a vehicle that is a write-off has been so badly damaged in an accident that it is not worth repairing. (BRIT)
The car was a write-off, but everyone escaped unharmed.
N-COUNT
2.
A write-off is the decision by a company or government to accept that they will never recover a debt or an amount of money that has been spent on something.
Mr James persuaded the banks to accept a large write-off of debt.
N-COUNT
3.
If you describe a plan or period of time as a write-off, you mean that it has been a failure and you have achieved nothing. (INFORMAL)
Today was really a bit of a write-off for me...
N-SING
Wikipedia
Total loss
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective.
Such a loss may be an "actual total loss" or a "constructive total loss". Constructive total loss considers further incidental expenses beyond repair, such as force majeure.
Examples of use of written off
1. More than 1bn in unenforced maintenance was being written off.
2. It cannot be written off as a "terrorist" organisation.
3. "Everything before then was written off as savagery or barbarism.
4. It was criticised, written–off and sometimes mocked.
5. So far, only 37m of overpayments have been written off.