Claimstrainer Blog

What is Proof of Loss?

Why do we ask our insureds to provide a Proof of loss? Well, a a Proof of loss is documentation that your insurance company requires to support your claim.

The property insurance proof of loss usually is for the purpose of providing the insurer with the formal claim including:

•The amount

•The parties claiming under the policy

•Those with an interest

•The date and cause of loss

• Some supporting documents of the amount of the loss

Typically, the policy usually requires that the proof of loss be sworn to as truthful and a notarized signature by the insured The insurer will look at this documentation to determine its liability under your policy. Depending on the type of policy, proof of loss might consist of a claim form, written estimates, receipts, sworn statements, police reports, and other evidence.

Proof of loss details the insured losses such as the property involved, what caused the damage, the extent of the damage, and the estimated dollar amount of the damage. For example, if your home is destroyed by fire, your proof of loss is your official communication with the insurance detailing the damaged property. This form will be extensive due to the nature of the loss.
For exAMPLE, An auto collision claim’s proof of loss will likely contain information about where the accident occurred, the parties involved, a copy of the police report, and written estimates.
On the other hand, if you are dealing with a life insurance policy, the proof of loss will be less extensive. You’ll need to provide the insurance company with a death certificate proving that the insured has passed away before the death benefit is paid to the beneficiary.