What must the insured demonstrate in order to collect from an insurance policy?

To collect from an insurance policy, the insured is required to provide evidence of a covered loss. This is fundamental as insurance is a contract based on indemnity; the insurer agrees to compensate for losses that occur due to specified risks. Therefore, presenting proof of a valid loss directly correlates to the insurer's obligation to fulfill the contract. This evidence typically includes documentation, witness statements, or any other necessary information that substantiates the occurrence of the loss.

While proof of payment of premiums, fulfillment of contractual obligations, and timely submission of a claim are important in maintaining the validity of the policy and facilitating the claims process, without proper evidence of a covered loss, the claim cannot be adequately assessed or processed for payment. Consequently, demonstrating a covered loss is the critical step that allows the insured to access the benefits outlined in the insurance contract.