Once an insurance company receives a “satisfactory proof of loss,” it must pay the claim within 30 days. Proof of loss is a detailed report with supporting documentation that provides an estimate of the losses owed to you. This includes all the evidence collected for your claim, such as photos, videos, invoices, receipts, and repair estimates. The purpose of this law is to prevent insurance companies from delaying claim payouts. If the insurance company forces you to wait more than 30 days for a payout, it may be subject to additional penalties under Louisiana law for acting in bad faith.