When filing a property damage claim, it is easy to confuse the assorted documents and piles of paperwork involved. A Proof of Loss is often mistaken for an actual property damage claim and this is not the case. A Proof of Loss is a separate document that plays a vital role in your insurance claim.
Proof of Loss is a legal document
A Proof of Loss is a formal, legal document that states the amount of money the policyholder is requesting from the insurance carrier. It provides the insurance company with detailed information regarding the formal claim of damages. The policyholder signs this document ‘ and in some cases this must be notarized ‘ and provides the necessary documentation to support the amount of money they have requested. Filing a Proof of Loss is required under most insurance policies, including homeowners insurance, life insurance, and car insurance. Most insurance policies require that the policyholder provide a signed Proof of Loss within 60 days of the insurance company’s request.
What is included in a Proof of Loss?
What must be included in a Proof of Loss varies from insurance policy to insurance policy. In most cases, the Proof of Loss must include the following:
- Amount of loss that the policyholder is claiming
- Documentation that supports the amount of claimed loss
- Date that the loss occurred
- Cause of the loss
- Identity of party claiming the loss
When filing an insurance claim, check your individual insurance policy to determine what is required in your Proof of Loss document. If you are unsure, contact your insurance company and ask for this information in writing. By completing the Proof of Loss document in a timely manner, your claims process may proceed more quickly.
An insurer may reject your Proof of Loss
Once you have completed the Proof of Loss and submitted it to your insurance company, they will review the document and issue a reply. The insurer may accept your proof or they may reject your proof. If the insurance company is rejecting your Proof of Loss, it is likely because the paperwork is not completed properly, is not signed or not notarized, or is missing information. The insurer will provide specifics regarding the basis of the denial and instructions as to what the policyholder must do to properly comply.
You must provide a Proof of Loss if it is requested
If your insurance company requests a Proof of Loss, you are required to comply in order to proceed with your insurance claim or before you may file a lawsuit against the insurance company. Not doing so may be considered a failure to cooperate with the insurer’s investigation of your loss and may prevent any payment on your insurance claim.
Need assistance with your insurance claim? Give us a call
Insurance claim forms are complicated. Insurers can be difficult to deal with. And understanding the steps required to efficiently process your claim can be one big headache. Let us help. The insurance claims attorneys at Ged Lawyers, LLP, are experienced and knowledgeable, efficiently navigating the insurance claims process to recover damages. Contact our office at 844-443-3529 or online to arrange for a free case review.