Total loss means the theft of or accidental damage to Covered Vehicle which meets one of the following criteria:

1. Covered Vehicle is declared a Total Loss by Your Physical Damage Insurer,
2. No Physical Damage Insurance exists and Covered Vehicle is stolen and not recovered within thirty (30)days after the date of theft and remains unrecovered at the time of notification of Total Loss to the Program Administrator, or
3. No Physical Damage Insurance exists and the total cost to repair Covered Vehicle is greater than or equal to its Cash Value as determined by the Program Administrator using the average retail value for a used vehicle in the NADA Official Guide applicable to Your Unit Type, or its equivalent, based on the best information available on Covered Vehicle’s options, age, and condition.