If you have filed an insurance claim, chances are that your insurance company will eventually ask for a proof of loss statement. Insurance companies make a big deal about this statement, and it gives homeowners a lot of stress when dealing with this request.
However, in our opinion, the proof of loss statement should not be as big of a deal as it is made out to be. A proof of loss statement is not set in stone, but you’ll still want it filled out correctly to keep the claim process smooth. In this article, our pros at Liberty Adjusters explain exactly what a proof of loss statement is, why it is so important, and how you should put this statement together.
Have an insurance claim to file? Call Liberty Adjusters first, we will help you get the settlement you deserve on your homeowner’s insurance claim.
What Is The Purpose of a Proof of Loss Statement
The goal of a proof of loss statement is for the homeowner to declare the current value of loss that is being claimed. This number does not have to be exactly perfect, and you are still able to add to it later.
However, you should still try to be as accurate as possible with your estimate to avoid any confusion or discrepancies with your claim. Intentionally misstating your value of loss could be considered insurance fraud and is a serious offense.
To make sure your proof of loss statement is done correctly, call Liberty Adjusters today with any questions you may have and we will be happy to help!
While You’re Here > Insurance Claims 101
Is a Proof of Loss Statement a Normal Occurrence?
Many people question if this statement is commonly required in the insurance claim process. If you are currently dealing with a claim, you may not have had a request to submit a proof of loss statement yet. Because you haven’t received any requests, you might assume you’re not required to send one in, but it is not that simple.
Even if you haven’t been asked yet, it could already be noted somewhere in your policy agreement. In fact, Florida law requires the homeowner to submit a proof of loss statement if the insurance company asks for one.
Not only is a proof of loss statement a normal practice, but it is also typically already agreed upon via your policy language.
What Happens if I Refuse to Provide a Proof of Loss Statement
An insurance claim can take a serious mental toll, and it is easy to forget or neglect certain aspects that need your attention. As we mentioned earlier, the proof of loss statement is a big deal to the insurance companies, and it is treated as such.
If you fail to turn in your proof of loss statement, your claim will most likely be completely denied, leaving you with the bill for all of the damage. If this occurs, the only recourse left for you would be to pursue legal action, which unfortunately has not gone well in our experience.
If this does get taken to court, the judgment typically falls on the homeowner for not holding up their end of the contract, resulting in a denied claim and lost legal fees. No matter the situation, your proof of loss statement will make or break your claim, so be sure to make that your top priority if one is requested.
Don’t Let Your Insurance Fill Out Your Proof of Loss Statement, Call Liberty Adjusters
There may be cases where the insurance company offers to put together a proof of loss for you, and although this may sound enticing, it is typically not in your best interest.
Insurance companies are a business, and their profits are directly related to paying out homeowners the smallest amount they can get away with. This is why you need someone to guide you through your insurance claim, keeping your interests at the forefront. A public adjuster, like those at Liberty Adjusters, will have your back through the claims process, and ensure you are getting the full amount you deserve for your settlement.
Don’t let your insurance company use this as a way to delay or undervalue your claim. If you need to prepare a proof of loss statement, give us a call at Liberty Adjusters, and we can go over it with you in more detail.