Home / FAQs / Sometimes on an insurable loss that we filed under the mortgagee clause, we repair the property with the proceeds. Do we still have to report the loss on the claim?

Sometimes on an insurable loss that we filed under the mortgagee clause, we repair the property with the proceeds. Do we still have to report the loss on the claim?

Yes, the insurance loss proceeds report must be submitted during the claim even though the property has been repaired. Some of the details required to be reported include: the claim date, the amount claimed, the amount spent towards repairs, and the amount spent towards unpaid principal balance.

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