What a Proof of Loss is
- Sworn statement of the insured
- Lists damages claimed
- Specifies amount claimed
- Typically carrier-provided form
- Signed under oath before notary
When required
- When carrier demands (not automatic)
- Specific policy provision activated
- Typically 60 days from demand to respond
What to include
Loss facts
- Date and time of loss
- Cause of loss
- Location of damage
- Parties at scene
Damages claimed
- Structural scope
- Contents inventory with values
- ALE calculated to date
- Mitigation costs
Amount claimed
- Total claimed amount
- Breakdown by coverage
- Depreciation noted
What to avoid
Admitting unfavorable facts
- Don't characterize gradualness
- Don't speculate about cause
- Facts only, no theory
Over-claiming
- Claim based on evidence
- Avoid inflated amounts
- Maintains credibility
Under-claiming
- Don't omit damages not fully documented yet
- Reserve rights for supplemental
- List-known-to-date
Inconsistencies
- Must align with prior statements
- Prior claim history consistent
- Policy coverage claimed must match
Working with counsel or PA
- Retained counsel or PA can prepare
- Insured signs under oath
- Attorney-client privilege on preparation notes
- Verify accuracy before signing