Your Duties in the Event of a Loss

As a condition of coverage, your property policy requires certain things of you in the event you have a loss. These are conditions that must be met by the policyholder in order for the insurance company to pay for the loss.

· Prompt notice of loss must be given to the company or their agent.
· In the event of a loss by theft, the policy must be notified.
· If the loss falls under the additional coverages section for the credit card or fund transfer card, the appropriate bank or credit card company must be notified.
· The property must be protected from further damage. If this requires the insured to make reasonable and temporary repairs to protect the property, accurate records must be kept of the repair expenses.
· The policyholder has a duty to cooperate with the insurer in the claim investigation.
· The policyholder must prepare an inventory of the damaged or lost personal property. The description, quantity and value must be listed in the inventory, and documentation such as receipts, bills or related documents should be included if available.
· The policyholder must make the damaged property available for inspection by the insurance company, provide the requested records and documents and permit the insurer to make copies.
· Following a loss, a policyholder must complete the Proof of Loss form. This proof of loss statement must be signed and sworn.

Of course, you are not left to your own devices to complete these duties. There will be help and guidance from the adjuster, and we are always available to help you with your claim.