What is the definition of Proof of Loss?

Proof of Loss refers to the documents that a claimant needs to show to the insurance company to prove that a loss was incurred.

The proofs of loss would serve as one of the things the insurance company will look into when processing a claim. For instance, for beneficiaries to claim death benefits, they have to submit a copy of the death certificate.

The documents needed as proof of loss depends on the type of policy involved. It can include receipts, police reports, receipts, pictures, sworn statements and so on. The claimant is also required to fill up a claims form.

For claims against loss of insured property, the claimant may also need an appraiser to look at the extent of the damage, what was the reason for the damage, and an estimate the dollar amount required to repair or replace it. It is important for an adjuster to determine the cause of the loss, since the insurance company will only pay for covered causes of loss.

• Insolvency
• Misstatement of Age or Sex Provision
• Modified Premium Policies
• Moral Hazard
• Comprehensive Coverage