phrase
proof of loss
In plain English
A formal sworn statement from the insured documenting the loss, required by most property policies before the carrier will pay.
Usually due 60 days after the loss. Specifies what was damaged, when, by what cause, and the value claimed. Carriers can deny a claim for failure to submit a timely proof of loss — even when coverage clearly applies.
What it covers
The proof-of-loss form documents the insured's claim and triggers the insurer's obligation to investigate and settle.
What it does not cover
It is NOT a settlement offer. The proof of loss is the insured's claim; the carrier's response (accept, deny, or counter) follows.
Where it trips people up
Public adjusters often handle proof-of-loss preparation as part of their service. On large losses, that's worth real money — a poorly documented proof can leave money on the table.
The technical version
A formal, sworn statement filed by the insured documenting the facts of a loss, the property damaged, the cause, and the amount claimed, typically required as a condition of payment under first-party coverage.