Legal Definitions - progressive loss

Progressive loss is a term used to describe a gradual and continuous decrease in value or quality of something. It can refer to various situations:

• In finance, it can be the loss of value of an investment over time.
• In insurance, it can be the amount of financial damage caused by an insured person's death or an insured property's damage.
• In tax, it can be the excess of a property's adjusted value over the amount realized from its sale or other disposition.

For example, if you own a car and its value decreases over time due to wear and tear, that's a progressive loss. Similarly, if you have a stock that loses value gradually over several months, that's also a progressive loss.