Start with what a loss run is
An insurance loss run summarizes claims associated with a policy or insured property during a stated period. It may list the policy number, coverage dates, date of loss, claim type, claim number, open or closed status, amounts paid, reserves, and a short description. The exact fields vary by insurer and report.
A loss run is a claim-history record, not a complete property-condition report. It can help identify events that need follow-up, but it does not replace inspections, repair documentation, seller disclosures, permits, engineering review, or current insurance underwriting.
Verify the policy periods
Confirm the beginning and ending date of every report, the named insured, the property address, and the carrier. A report covering only one policy year should not be treated as a complete multi-year history. Ask why any requested year is missing and whether another owner, carrier, or policy covered that period.
| Field | What to verify | Why it matters |
|---|---|---|
| Policy period | Start and end dates | Shows the exact window covered |
| Named insured | Owner or entity name | Helps identify reports issued under a prior owner or entity |
| Property location | Correct address and buildings | Prevents mixing records from another property |
| Carrier and policy | Insurer and policy number | Helps reconcile changes in coverage and missing years |
Read each claim line by line
For each claim, review the date of loss, reported cause, claim status, paid amount, outstanding reserve, and available description. Separate claim frequency from claim severity. Several smaller water claims may raise different questions than one major wind or fire loss.
| Claim detail | Question to ask | Supporting record |
|---|---|---|
| Date and cause | What happened, and where? | Seller disclosure, incident report, inspection |
| Paid amount | What work or loss did the payment address? | Estimate, invoice, proof of payment |
| Reserve | Why is money still reserved? | Carrier or adjuster status information |
| Status | Is the claim open, closed, denied, or reopened? | Current written carrier record |
Separate open and closed claims
A closed claim may still require repair verification. An open claim may involve unresolved damage, supplemental estimates, pending payment, litigation, subrogation, or incomplete documentation. Ask the insurance professional and attorney how an open claim may affect underwriting, assignment of rights, closing, or future coverage. Do not assume that “closed” means every repair was completed or that “open” means the property cannot be insured.
Match claims to repair evidence
Compare the loss run with seller disclosures, inspection findings, permits, contractor invoices, photographs, warranties, and proof of completed work. The claim payment and the repair cost may not be the same. Confirm what was damaged, what was repaired, who performed the work, and whether permits or specialist reports were required.
Investigate missing years and unexplained gaps
- Request loss runs for the full period required by the current insurance professional or lender.
- Identify ownership, entity, carrier, and policy changes.
- Ask whether periods of self-insurance, force-placed coverage, lapse, or unavailable records exist.
- Document why a report is missing rather than silently treating the year as claim-free.
Understand what a clean loss run cannot prove
A report showing no claims means no listed claims were found for the stated policy period and insured record. It does not prove that no leak, wind event, fire, injury, code issue, unreported damage, denied claim, or owner-paid repair occurred. Continue physical, legal, title, permit, and insurance due diligence.
Prepare for insurance underwriting questions
Prior claims may influence a carrier's questions about repairs, roof condition, plumbing, electrical systems, water damage, liability controls, deductibles, exclusions, premium, or eligibility. The effect varies by insurer, market, property, claim, repair evidence, and current underwriting rules. Only the licensed insurance professional and carrier can explain the current result.
Questions to ask the insurance professional
- What policy years and named insureds must the loss runs cover?
- Are any claims still open, reserved, disputed, denied, or reopened?
- What repair documentation will the carrier require?
- Do any claims affect eligibility, premium, deductible, exclusions, or required inspections?
- What information is missing before a current quote can be relied upon?
Know the limits of this review
This page is educational. It does not determine coverage, insurability, premium, claim rights, legal responsibility, repair adequacy, engineering condition, or lender approval. Use a licensed insurance professional for coverage and underwriting, an attorney for legal and claim-right questions, and qualified inspectors, contractors, engineers, and other specialists for property-condition and repair questions.
Continue the insurance and property review
Next, compare the loss history with the Florida insurance buyer guide, the insurance binder guide, the multifamily inspection checklist, and the multifamily operating-expense guide.
