The Statement of Loss (sometimes called the Loss Statement or Adjuster's Estimate) is the document the insurance adjuster produces after inspecting your property. It is a line-by-line itemization of every damaged component, with quantities, unit costs, and totals expressed as both ACV and RCV.
What to do with it
- Read every line. Compare materials and quantities against what your contractor sees on site.
- Compare to contractor quotes. A bid should come in close to the RCV total, line item by line item. Big gaps are negotiating leverage — either with the contractor or back to the insurer.
- Flag missing items. Anything damaged but not on the Statement of Loss is the basis of a supplement request.
What it isn't
The Statement of Loss is not the final word. It's the insurer's opening offer. Submitting reasonable supplements with photo evidence and contractor estimates is normal, expected, and how full coverage gets paid.