Let us take care of you

Proof of Loss

What Does Proof of Loss Mean?

Proof of loss refers to the documentation or evidence that an insured person must provide to their company when filing a claim for a covered loss. It is a formal statement that details the extent of the damage or loss suffered and the associated costs.

 

When you experience a loss covered by your insurance policy, such as damage to your property or a car accident, the company will ask you to submit proof. This document typically includes information such as the date and cause of the loss, a description of the damaged property or injuries sustained, and an estimation of the financial value.

 

Submitting proper proof of loss is important because it helps the insurance company assess the validity and extent of the claim. It serves as a formal declaration of the damages suffered and the amount of compensation being sought. It is crucial to provide accurate and detailed information to support your demand and ensure a fair and timely resolution.

 

It is important to promptly contact your company, gather all necessary documents and information, and accurately complete the proof of loss form to facilitate the process.

How Does Proof of Loss Work at PSIC?

In PSIC, the proof of loss is a document that requests relevant information from the insured to process their claim. The provided data must bring transparency to the report. It is essential to accurately and honestly complete the proof.

 

It should be sent after filing the claim. Depending on the type of demand, the proof of loss will vary. It is important for you to gather as much evidence as possible to facilitate the investigation and estimation process for the insurance adjuster assigned.

 

This ensures a fair and efficient process and helps establish the credibility of the claim. Your producer can guide you through the completion and assist you in gathering the necessary information to support it.

Need More Help?
If you couldn’t find what you were looking for, remember that at PSIC we have an available AI assistant!

It’s All About Insurance!

Learn more about insurance in the resources section. Find safety tips, money-saving options, do’s & don’ts, news, and much more information.

Safety Tips for Dog Owners

Pets become cherished members of our family, but it’s crucial to recognize that they have unique needs and can behave unpredictably at times. Therefore, it’s important to take proper precautions to protect them and also ensure the safety of those around them. Let’s go over some tips to make this happen.

Blog

10 Sep 2024
5 min read

Blog

Advantages of Living in a Gated Community

From enhanced safety and privacy to a strong sense of belonging, living in a gated community offers a wider range of benefits than traditional neighborhoods do. Discover the numerous advantages that come with this lifestyle, we’ll address common questions and provide insights into the advantages of this experience.

Blog

10 Sep 2024
4 min read

Blog

Which Dwelling Fire Policy to Choose?

There isn’t a right or wrong choice of coverage, all it has to do is fit your needs. DP1 Insurance provides basic protection of your property from a detailed list of perils, DP3 Insurance offers a broader scope of coverage, except for a few perils, also mentioned in your policy.

FAQ

FAQ

What is DP3 Insurance?

DP3 Insurance, also known as Special Dwelling Insurance or Open Peril Insurance, is a protective buffer for your rented, primary owner occupied or seasonal property. It’s specifically designed to keep your home and assets safe with an open peril policy, covering a wide scope of potential risks, with a few exceptions.

FAQ

FAQ

Keen to Catch Every Update?

Get monthly news and useful insights by subscribing to our monthly newsletter.

By submitting this form you confirm that you agree to PSIC’s privacy policy.