We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What is a Loss History?

Malcolm Tatum
By
Updated May 16, 2024
Our promise to you
SmartCapitalMind is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At SmartCapitalMind, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

A loss history is a documented history of damages or losses connected with a given asset. While used in several different applications, the term is most commonly associated with a loss in value of commercial and residential properties. In many cases, an insurance company will prepare what is known as a loss history report that details any and all events that caused significant damage to the property in any manner. Histories of this type are invaluable for prospective buyers, as the contents of the reports help make it easier to determine if the purchase price and the degree of risk associated with a given property is acceptable.

This loss of history may have to do with just about any event that caused some type of property damage. For example, an insurance loss history report will include information about vandalism to the property that resulted in severe damage to buildings on the property. This would include vandalism that has a significant effect on the efficiency of the electrical wiring, plumbing, or air conditioning systems. Any damage to the structure itself, such as the foundation of the building, will also be included.

Along with detailed information about the extent of the damage, the loss history report will also include information on what was done to repair the damage. This information is also helpful, because it gives prospective buyers the opportunity to determine if those repairs were sufficient to compensate for the damage. In the case of a damaged plumbing system, a prospective buyer will want to know if the repairs were made using quality components, or plumbing fixtures that were of lesser quality than the ones that were destroyed.

Damages of any type are included in a loss history report. Along with vandalism, any damage resulting from break-ins, fires, damage caused by natural events such as floods, lightning, hurricanes, or earthquakes, and even damage caused by a leaky roof are routinely included. Details such as the time period in which the loss occurred, the cost involved in the repairs, and details of how the repairs were effected are often common elements in the body of the report.

A comprehensive loss history does not just point out the potential problems with a given property. In some cases, the information contained in the report can actually point to a benefit inherent in the property. For example, if the roof of the main building was damaged by wind a few years ago, but replaced completely using high quality materials, this actually tells prospective buyers that the new roof should last for many years before it must be replaced. For people who want properties that require little upgrades in the short-term, information of this type can actually increase interest in the property rather than discourage buyers.

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Malcolm Tatum
By Malcolm Tatum
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing to become a full-time freelance writer. He has contributed articles to a variety of print and online publications, including SmartCapitalMind, and his work has also been featured in poetry collections, devotional anthologies, and newspapers. When not writing, Malcolm enjoys collecting vinyl records, following minor league baseball, and cycling.
Discussion Comments
Malcolm Tatum
Malcolm Tatum
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing...
Learn more
SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.