What is Proof of Loss?
A proof of loss is a document typically filled out by the insured (you) to substantiate the value of the loss. It is typically one page, although it can be more depending on the claim, and will include the value of your loss and may include supporting documentation such as estimates for the damage you are claiming. Contrary to what insurance companies tell you, you do not need to fill out their proof of loss form. A proof of loss can be verbal or written on a napkin. What matters is that you provide the insurance company proof that a loss occurs. This can be done by calling your agent or the insurance company directly and telling them you have a claim. Insurance companies routinely hide behind a proof of loss to deny insurance claims. They put unnecessary barriers between you and the money you are owed under the insurance policy by making you fill out a proof of loss and when you do not fill out the proof of loss, they claim you cannot get any insurance benefits. That is not true.
What should you do?
In the event of a loss, you should notify your insurance company immediately, which then triggers their obligation to investigate the claim. The sooner the better. Notifying your insurance company of the loss immediately deprives them of their ability to rely on their proof of loss provision.
Be careful in signing a proof of loss as signing the proof of loss may be considered an admission that you agree with the amount the insurance company is offering you. You may then be deprived of receiving additional insurance benefits. If you do not agree with the proof of loss, do not sign it.
If you have any questions or concerns about how your insurance company is treating you, you should call the lawyers at MGW. We have the experience, expertise, and knowledge of the insurance process to get you the benefits you paid for.