Loss documentation
Statement of Loss
A complete, itemized declaration of damages, valuations, and recoverable amounts — required by insurers for many property claims.
Why this form matters
The Statement of Loss is the insurer-facing, itemized record of every claimed damage, valuation method, and calculation. It aligns your evidence with the carrier’s accounting so payments can be issued without delay.
Insurers require it to validate coverage, calculate depreciation, and reconcile prior payments. Accuracy, clarity, and supporting documentation reduce disputes and speed settlement.
Key financial lines to summarize
- Total claimed amount
- Replacement cost values (RCV)
- Actual cash value (ACV)
- Depreciation applied
- Recoverable depreciation
- Deductible
- Net claim payable
Structured inputs to capture every value
Use these fields to draft a complete, auditable Statement of Loss.
Breakdown the insurer will check
Explain every calculation and align it to the carrier’s ledger.
Each line in the Statement of Loss must tie to evidence, valuation method, and policy terms. Document how you derived:
- Replacement Cost Value (RCV): Full repair or replacement pricing.
- Actual Cash Value (ACV): RCV minus calculated depreciation.
- Depreciation: Method, rate, and rationale for each item.
- Recoverable depreciation: Amount released after proof of repairs.
- Deductible: Applied once per occurrence per policy terms.
- Net payment due: ACV plus recoverable depreciation minus prior payments.
- Total claim: Sum of all categories after adjustments.
Statement of Loss numbers
Required Documentation
Attach proof for every number to prevent delays or reductions.
Photos & videos
- Pre-loss and post-loss visuals
- Location tags and timestamps
- Damage progression evidence
Contractor estimates
- Line-item scope
- Material and labor rates
- Code upgrades noted
Xactimate/X1 summaries
- Category breakdown
- Pricing versions
- Applied taxes and O&P
Receipts / invoices
- Mitigation charges
- Temporary repairs
- Replacement purchases
Contents inventory
- Itemized list with RCV/ACV
- Age and condition
- Purchase proof
Expert reports
- Engineer / roofer findings
- Mitigation vendor reports
- Causation and scope support
Proof of repairs
- Completion photos
- Certificates and permits
- Progress billing
Policy excerpts
- Coverage grants
- Deductible clauses
- Depreciation provisions
Common mistakes to avoid
Prevent rejections, underpayments, and avoidable delays.
Understated depreciation
Carrier uses aggressive schedules that reduce ACV without support.
Excluding contents
Leaving personal property off the form lowers the total claim.
Missing ALE
Not documenting temporary housing, meals, or mileage erodes recovery.
Incorrect deductible
Using hurricane/wind deductibles improperly changes the net payment.
Outdated estimates
Old pricing or missing code upgrades understate RCV and holdback.
Missing mitigation costs
Dry-out, tarping, and board-up costs must be itemized to be reimbursed.
Specialty items omitted
Custom finishes, appliances, and antiques need documented valuation.
Wrong ACV/RCV math
Totals must reconcile with depreciation, deductibles, and prior payments.
Pair with the right claim tools
Combine your Statement of Loss with tools that maintain evidence, timelines, and exports.
Evidence Organizer
Centralize photos, invoices, and reports linked to each line item.
Open Evidence OrganizerDocument Generator
Create polished Statements of Loss and export ready-to-send PDFs.
Open Document GeneratorDeadline Detector
Keep statutory and policy clocks visible so payments stay on track.
Open Deadline DetectorClaim Playbook
Follow negotiation tactics and documentation checklists per stage.
Open Claim PlaybookCreate a Complete, Accurate Statement of Loss
This document is the insurer’s roadmap to payment. Capture valuations, depreciation, and documentation now so funds release without avoidable disputes.