Question

In property insurance, who is responsible for completing the proof of loss form?

1) Agent
2) Insured
3) Appraiser
4) Insurer

Answer 1

The insured is responsible for completing the proof of loss form in property insurance. Option 2 is correct.

Step-by-step explanation:

The proof of loss form is a crucial document in property insurance claims. It details the specifics of the loss or damage sustained, including the date, cause, and estimated value of the damage. While the agent might assist in the claims process and the appraiser assesses the damage, it's ultimately the responsibility of the insured to accurately complete and submit this form to the insurer within the stipulated time frame after the loss occurs. This document serves as the foundation for the insurer to evaluate the claim, determine coverage, and process the settlement. Filling it out accurately and comprehensively is vital, as discrepancies or missing information could potentially delay or impact the claim's approval. Therefore, while various parties may be involved in the claims process, the completion of the proof of loss form falls squarely on the shoulders of the insured.

Correct answer: Insured (2)