What is a proof of loss?

A proof of loss is a statement of facts about a loss that has occurred. It is a formal document submitted by the insured to their insurance company after a claim is made. The document typically includes details such as the date and nature of the loss, the items damaged or destroyed, and the amount being claimed. This information is essential for the insurer to understand the circumstances surrounding the claim and to evaluate it accordingly.

Submitting a proof of loss is a critical step in the claims process, as it provides the necessary evidence for the insurer to assess the validity and financial implications of the claim. This ensures that the insurance company has all the relevant details needed to process the claim accurately and make a decision regarding payment or denial.

In contrast, a declaration of the insured's intent, a claim for reimbursement, or an assessment report by an adjuster each focus on different aspects of the insurance process without serving the specific function of presenting facts about the loss itself. A declaration of intent might express a desire to claim but lacks the necessary details. A claim for reimbursement is more about requesting funds based on a prior agreement, while an assessment report is typically generated by an adjuster to evaluate the loss but does not represent the insured's account of the loss.