The loss falls on the owner.

Explanation

The risk of accidental loss or destruction of property lies with the owner — unless another has assumed that risk by contract or wrongful act.

Where this applies

• A homeowner's shed is destroyed by a tornado, and no one else caused the damage — the loss falls on the owner because the risk of accidental destruction rests with the person who owns the property.
• A collector's rare coin is lost when his safe is damaged in a flood, and he has no insurance — since no other party was responsible for the loss, the owner alone bears the cost.
• A farmer's unharvested crop is ruined by an unexpected early frost — unless someone else assumed the risk by contract, the loss of the crop falls on the farmer as owner.