What is the 'proof of loss' in a property claim?

The Proof of Loss is a sworn (notarized) statement from the insured detailing the loss: date and circumstances, list of damaged or destroyed property with values, the insured's interest in the property, other insurance covering the loss, and the amount being claimed. Most property policies require submission of a Proof of Loss within a specified time, typically 60 days from the date of loss, though insurers often grant extensions. Failure to submit a timely Proof of Loss can compromise the claim, though state laws and the courts often require the insurer to show prejudice from late filing before denying the claim on that basis alone. The Proof of Loss formalizes the claim and starts the insurer's clock for paying. Photographs, receipts, repair estimates, and other documentation often accompany the Proof of Loss.