What is a Sworn Proof of Loss?

Insurance companies have a list of obligations for homeowners to adhere to after their property is damaged. One of these is a Proof of Loss statement.

This is a sworn statement, meaning homeowners are asserting it is accurately filled out. Filling the form out accurately and timely is crucial to reducing the chances of an insurance company wrongfully denying a valid claim.

The Proof of Loss statement should include information about policy coverage amounts at the time of the loss, date and cause of the loss, documentation supporting the lost property (i.e. home inventories, repair or replacement estimates, and mitigation or repair receipts), information regarding ownership of the property, and the cash value of the property at the time of loss.

The information provided should be double-checked for accuracy, as misrepresentations may result in underpayment or outright denial of a claim. In addition, the form should be filled out within the time-frame required by your policy. Failure to timely submit the form may result in a denial of your claim.

Estimates of the value of the property and any expected repairs or replacements provided by the Proof of Loss should be thorough and accurate. It is important to have a professional provide these estimates in order to avoid potential underpayment.

This article is not intended to be legal advice nor create an attorney-client relationship.