The difference between a personal loss casualty loss any business casualty? Are casualty losses
investor losses?
Solution
The difference between a personal loss casualty loss any business casualty?
A casualty loss can result from the damage, destruction or loss of your property from any
sudden, unexpected, or unusual event such as a flood, hurricane, tornado, fire, earthquake or
even volcanic eruption. A casualty does not include normal wear and tear or progressive
deterioration.
A personal loss casualty applies to personal property you own. Such as your home, car or other
expensive property. Whereas a business casualty loss applies to business property such as your
building, business vehicles and equipment, etc.
Are casualty losses investor losses?
No, but they can affect investor losses. Casualty losses are related to the specfic business and are
deducted or written off against that business. Not the individual investors. However, when
casualty losses occur they can affect the business financial performance and cause investor
losses.