What is a 'proof of loss' form used for?

A 'proof of loss' form is a formal document that is submitted to an insurance company to provide detailed information about a claim. This form is essential in the claims process because it details the circumstances of the loss, including the nature of the loss, the date it occurred, and the value of the claim. By requiring this documentation, the insurance company can assess the validity of the claim and the amount payable under the terms of the insurance policy.

Submitting a proof of loss form is a crucial step for policyholders when they seek compensation for their losses, ensuring that the insurance company has all the necessary information to process the claim effectively. It is specifically designed for claims purposes and is not used for requesting coverage or applying for a new policy, nor for renewing existing contracts. The requirement for detailed documentation helps safeguard the interests of both the insurer and the insured by promoting transparency and thoroughness in the claims process.