What is true about a proof of loss?

A proof of loss is a formal statement made by the policyholder (the insured) that outlines the details of a claim being submitted to the insurance company. It is a crucial document in the claims process, as it officially notifies the insurer of the loss and provides the necessary information and evidence to support the claim.

Completing a proof of loss is not merely a matter of convenience or an optional step; it is a requirement mandated by most insurance policies. The insured must provide a written proof of loss to initiate the claim process. This document typically includes specific details such as the nature and extent of the damage, the time and cause of the loss, and the amount being claimed.

This requirement ensures that the insurance company has a clear understanding of what is being claimed, which can help facilitate a quicker and more efficient resolution to the claim. Therefore, the statement that it must be completed by the insured is correct, as it is the insured's responsibility to file this important claim document.