Glossary

Proof of loss

A signed, sworn statement detailing a property loss and the amount claimed, which the policyholder gives the insurer within a set period after it asks.

Also called: sworn proof of loss, proof of loss form, POL

A proof of loss is the policyholder's formal, signed and sworn account of a property loss. It states what happened and when, what was damaged, the amount claimed, and any other interests in the property, such as a mortgagee, with supporting estimates, inventories or financial records attached. It is separate from the first notice of a claim and usually much more detailed.

Under the ISO commercial property form CP 00 10, the insured must send a signed, sworn proof of loss within 60 days after the insurer asks for it. The insurer then has 30 days after receiving it to give notice of its intentions. The NFIP standard flood policy is different: the proof is due within 60 days of the loss, whether or not the insurer asks. Check your own policy, because manuscript and carrier forms vary.

The pitfalls are deadlines and accuracy. A late or incomplete proof gives the insurer grounds to reserve rights or deny, although courts in some states excuse delay that caused the insurer no prejudice. An inflated or careless figure can run into the policy's concealment and fraud condition. Ask for an extension in writing before the date passes, and have an accountant review business income figures. The guide on the sworn proof of loss: what it is, when it's due and how to prepare it walks through the form, and a public adjuster can help prepare it.

Last reviewed October 10, 2026

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Related terms

Notice of claim The report a policyholder must give an insurer about a loss, claim or lawsuit. The policy sets the timing, and late notice can put coverage at risk. Appraisal A property policy procedure for settling a dispute over the dollar amount of a loss, using two appraisers and an umpire instead of a lawsuit. Public adjuster A state-licensed professional hired by the policyholder, usually for a share of the recovery, to document, present and negotiate a property claim. Replacement cost A valuation basis that pays the cost to repair or replace damaged property with like kind and quality, without deducting for depreciation. Business income Property coverage that replaces net income and continuing operating expenses, including payroll, while a covered physical loss suspends operations.

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Cómo presentar un reclamo de seguro para su negocio, paso a paso A quién avisar, qué le exige la póliza primero, qué documentos enviar y qué plazos debe cumplir la aseguradora una vez reportado el reclamo.