What is a Proof of Loss? What is a POL?
If you have a homeowner’s insurance policy there are usually certain duties after a loss that you may be required to perform upon request or as an obligation after the loss occurs. A Proof of Loss is a statement made by the insured or policyholder of actual money of damages they are claiming in the form of money to be reimbursed. It will depending on your loss, request you separate the money you are requesting for damages into the different coverages you are requesting the money from. For example, Coverage A would be for your main structure damage or home, Coverage B would be other structures like a detached garage or fence, Coverage C would be your contents or personal property, and Coverage D would be additional living expenses. It is signed by the named insured or insureds and it requires it to be a sworn and notarized document. Usually, this document will also be required to require that any and all supporting documentation be provided with the submission of the proof of loss. In some states upon this Proof of Loss form is requested the insured has 60 days to submit the form to the insurance company. It is important to fill this form out properly and also to understand the Proof of Loss is not the claim. This is sometimes used by an insurance carrier to attempt to intimidate the insured or on the other hand to prevent an insured from committing fraud. If you have a valid insurance claim this form should not be something you fear. You should always in our opinion have a Public Adjuster representing your best interest to make sure you get paid fairly and receive the settlement you are due in accordance with your policy.
Experienced Public Adjusters will help you prepare this document properly and also help you providing supporting documents to support the value of the damages you are claiming.