What is a Sworn Proof of Loss and Why is it So Important?

Homeowners insurance is meant to protect homeowners from financial losses due to unforeseen events such as natural disasters, theft, and other types of damage. However, when a claim is made, it is important for homeowners to understand all their post-loss obligations under their insurance policy. One of the most important of those is completing a sworn proof of loss (“SPOL”) as part of the claims process. In this article, we will discuss what a SPOL is, why it is important, and how to complete one.

A SPOL is a formal statement that is signed under oath and submitted to the insurance company as part of the claims process. It is used to provide the insurance company with detailed information about the loss, including the cause of the loss, the extent of the damage, and the cost of repairs or replacement. The purpose of a SPOL is to provide the insurance company with the information they need to make an accurate assessment of the claim and determine the amount of the settlement.

It is important to note that most insurance policies require homeowners to complete a sworn proof of loss within a certain timeframe, usually 60 days after it’s requested by the insurance company (or with State Farm policies, 60 days from the date of loss). Failure to complete a sworn proof of loss within the specified timeframe can result in the claim being denied. Additionally, the sworn proof of loss is a legal document, and any false statements made in the document can result in criminal charges.

When completing a SPOL, it is important to be as detailed and accurate as possible. This includes providing the insurance company with documentation such as photographs of the damage, receipts for repairs or replacement, and estimates from contractors. It’s also important to keep records of any communication with the insurance company and any other relevant information.

In conclusion, a SPOL is a critical component of the homeowner’s insurance claims process. It is important to understand the importance of completing a sworn proof of loss, and how to do it accurately and within the timeframe specified in the policy. By providing detailed and accurate information, homeowners can improve the likelihood of their claims being processed quickly and fairly. If you’re a homeowner and are uncertain about how to complete a sworn proof of loss, you should contact VCM Law Group and its insurance attorneys for help. Call us at 786-361-6887 or via email at info@vcmlawgroup.com