What Is Proof of Loss?
You need to file a home insurance claim. A part of the process in doing so is often to complete a proof of loss statement. What’s that? And, how do you know how to complete it?
The good news is your home insurance agent will help you through this process. Whenever there is a need to file an insurance claim, rely on your agent to help. This speeds it up. It also ensures you do not provide inaccurate information that could damage your claim.
Defining Proof of Loss
The proof of loss statement is a document you often must complete when filing a claim. Most insurance claims require it. However, it is nearly always a requirement when filing a home insurance claim. In short, it is a statement that outlines what amount of money you wish to request. This is a legally binding document. That means you must be truthful in it. You must also take steps to ensure the amount you request is accurate.
A proof of loss statement requires your signature. This signature is your sworn oath about the money you wish the insurer to pay you for the claim loss. The home insurer will use this document to determine if it can pay you the amount requested. This is not your actual claim. You will need to fill out additional information about why you are filing the claim.
With a proof of loss statement, you state how much you wish the policy to pay you. In some cases, you will need to justify this amount. For example, in a roofing claim, the estimate from a local roofer will help to prove that this is the amount necessary to cover the claim. If you lost a piece of jewelry, a receipt can help you verify the actual worth of the item.
Take the time to work with your insurer to complete the proof of loss. Be sure it is as accurate as possible. This information will play a role in how much the insurer pays you for the claim. However, it is only the first step. The insurer will still verify that this is the right amount. The home insurance policy also defines how much coverage you will receive. Your home insurance agent will help you through this process to ensure accuracy and speedy claim service.