FLOOD08304

• County: Statewide
• Basin: Statewide
• Title: Federal Emergency Management Agency
• Date: 5/1/1998
• Prepared By: FEMA
• Floodplain - Doc Type: Historic FEMA Regulatory Floodplain Information

Federal Emergency Management Agency

2. As soon as reasonably possible. separate
thedamaged~dundamagedpropeny.~~
ting it in the best possible order so that the
Insurer may examine it; and
3. Within 60 days after the loss. send the
Insurer a proof of loss. which is the Insured's
statement as to the amount it is claiming
under the policy signed and sworn to by the
Insured and furn;shing the fOllOwing infor-
mation:
a. The date and time of the loss;
b. A brief explanation of how the loss hap-
pened;
c. The Insured's interest in the property
da.."aged (for example. "owner") and the in-
ter~"ts. if any. of others in the damaged
property;
d. The actual cash value of each damaged
item of insured property and the amount of
damages sustained;
e. The names of mortgagees or anyone else
having a lien. charge or claim against the in-
sured property;
r. Details as to any other contracts of in-
surance covering the property. whether valid.
or not;
g. Details of any changes in ownership.
use. occupancy. location or possession of the
insured property since the policy was issued;
h. Details as to who occupied any insured
building at the time of loss ~d for what pur-
pose; and
i. The amount the Insured claims is due
under this policy to cover the loss. inclUding
statements concerning:
(1) The limits of coverage stated in the pol-
icy; and
(2) The cost to repair or repl&ce the dam-
aged property (whichever costs less).
4. Cooperate With the Insurer's adjuster or
representative in the investigation of the
claim;
5. Document the loss with all bills. re-
ceipts. and related documents for the
amount being claimed;
6. The insura.nce adjuster whom the Insurer
hires to investigate the claim may furnish
the Insured with a proof of loss form. and she
or he may help the Insured to complete it.
However. this is a matter of courtesy only.
and the Insured most still send the Insurer a
proof of loss within 60 days after the loss
even if the adjoster does not furnish the
form or help the Insured complete it. In com-
pleting the proof of loss. the Insured most
use its own judgment concerning the amount
of loss and the jostifiC&tion for the amount.
The &djoster is not authorized to approve
or disapprove claimS or to tell the Insured
whether the claim will be a.pproved. by the
Insurer.
rz. The Insurer may. at its option. waive the
requirement for the completion &lid filing of
a proof of loss in certain cases, in which
event the Insured will be required to sign
&lid. at the Insurer'S option. swear to ~ ad-
juster's report of the loss which includes in-

pt. 61, App. A(2)

formation about the loss and tbe damages
needed by the Insurer in order to) adjost the
claim.
8. Any false statements made to the course
of presenting a claim under thi" policy may
be punishable by fine or imprisonment under
the applic&ble Federal laws.
P. Options After a Loss: Option>, the Insurer
may. in its sole discretion. exerci.se after loss
include the following:
1. Evidence of Loss: If the Insilrer specifi-
cally requests it. in Writing. the Insured may
be required to furnish a complece inventory
of the destroyed. damaged and undamaged
property. including details as to quantities.
costs. actual cash values. amount of loss
claims. and ~y Written plans and specific&-
tions for repair of the dama@:ed property
which can reasonably be made available to
the Insurer.
2. E%amination Under Oath and Access to the
Condominium Association '. ATticl,,. of Associa-
tion OT IncoTPOTation. Property 1~3Urance Poli-
cies. and OtheT Condominium Do,::uments: The
Insurer may require the Insured to:
a. Show the Insurer. or its designee. the
damaged property;
b. Be examined under oath bl' the Insurer
or its designee;
c. Sign any transcripts of sllch examina-
tions; and
d. At such reasonable times and places as
the Insurer may designate. permit the In-
surer to PYA.m.;ne and make extracts and COP-
ies of any condominium documents. including
the Articles of Association or Incorporation.
Bylaws. rules ~d regulations, Declarations
of the condominium. property insurance poli-
cies. ~d other condomini1an documents; and
all books of accounts. bills. invoices and
vouchers. or certified copies thereof if the
originals are lost. pertaining to the damaged
property.
3. Options to Repair OT Replace: The Insurer
may take all or any part of the damaged
property at the agreed or appra1sed value
and. also. repair. rebuild or replace the Jl1\Op-
erty destroyed or damaged with other of like
kind and quality within a rea.o;onable time.
on giving the Insured notice of the Insurer's
intention to do SO within 30 days after the re-
ceipt of the proof of loss herein required
under paragraph O. above..
4. Adjustment Options: The In.~urer may ad-
just loss to any insured property of others
with the owners of such property or with the
Insured for their account. An:r such insur-
ance under this policy shall not inure di-
rectly or indirectly to the benefit of any car-
rier or other bailee for hire.
Q. When Loss Payable: Loss is payable with-
in 60 days after the Insured mes its proof of
loss (or within 90 days aftert.he insurance
adjuster files ~ adjuster's report signed and
sworn to by the Insured in lieu of a proof of
loss) and ascertainment ot thE' loss is made
either by agreement between the Insured &lid

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