When filing an insurance claim, your provider may ask for proof of ownership. This is a standard step in the claims process, especially if your loss involves theft, fire, or any high-cost items. It helps confirm the items were yours and ensures that your claim is accurate and fair.
It’s not always required, but knowing how to provide proof of ownership can make the process quicker, more efficient, and less stressful. But what exactly is proof of ownership, and what if you don’t have it?
In this article, you will learn how to get proof of ownership for insurance, what counts, what doesn’t, and how to prepare before a loss happens.
Do insurance companies always ask for proof of ownership?
Insurance companies won’t always ask for proof of ownership, as this depends on the nature of the claim. Oftentimes, it’s requested when there’s no physical evidence of the item, such as in cases of theft, fire, or total loss, or when the claim involves belongings of significant worth.
You may be asked to provide proof of ownership in the case of:
- Theft: If you’re claiming a stolen item, you will likely need to prove that you had possession of the item in the first place.
- Fire: Because fires are so destructive, they often leave no physical evidence behind or damage items beyond repair.
- Total loss: Whether a car or other household items, if something is a total loss, then proof of ownership will support the cost to replace it.
- High-value items: Big-ticket items such as jewelry, electronics, and even artwork will often require proof to justify the value.
- Disputed claims: You also may be asked for ownership documentation to verify your claim if there are inconsistencies that require additional details.
While each insurance provider has unique policies, it’s common in these types of situations for insurers to ask for documentation that confirms the items you’re requesting compensation for actually belonged to you. It’s their way of confirming the validity of your claim, providing an accurate payout, and reducing the risk of fraudulent claims.
What counts vs. what doesn’t as proof of ownership
How do you provide proof of ownership? Now that you’ve established what it is and why it’s important for your insurance claims, let’s talk about what actually qualifies.
What is the best proof of ownership?
- Receipts: The most straightforward form of proof, as it includes the date, amount paid, store, and a description of the item.
- Photos/videos: Clear visual proof of the item in your home or in use. Most times, photos and videos will have time stamps as well, which can be helpful.
- Warranties or manuals: These will list product models or serial numbers of the item, in addition to confirming ownership.
- Bank or credit card statements: Missing the receipt? Proof of a transaction can serve as sufficient proof in some cases.
- Appraisals: Typically used for jewelry, collectibles, or rare items. A professional appraisal will support both ownership and value.
- Emails or order confirmations: Online purchases come with digital receipts, confirmation emails, or other forms of proof of purchase.
What usually does not count as proof of ownership
- A verbal statement: It’s not enough to say you owned something. Visual evidence can be critical when filing an insurance claim.
- Photos from online listings: This kind of photo doesn’t prove that the item was in your possession. For a photo to prove ownership, it needs to be in use or in your space.
- An empty box: Packaging alone, without a receipt or photo, is not enough to confirm ownership.
- A wish list or item in your cart: This does not show that you bought it. If purchased, you can access your order confirmation through your account on the site or via email.
The more detail and documentation you have, the better. So when in doubt, provide all the information that you can.
What if you can’t find proof of ownership?
Can’t find proof of ownership? Don’t panic, you have other options. If you don’t have the original receipt or photos, here are a few things worth trying:
- Look through your email: Search your inbox for order confirmations or digital receipts, especially if you bought the item online.
- Check your bank or credit card statements: These can show when and where you made the purchase and may be enough proof for your insurer.
- Ask the store: Some retailers can reissue receipts if you have the date of purchase and payment method.
- Secondary proof: Sometimes multiple pieces of weaker evidence, such as a photo and a bank transaction, can hold more weight when used together.
- Provide a written statement: Explain in detail and use as much information as possible, such as brand, model, year of purchase, where you bought it, and approximate value. If your explanation is reasonable and supported by other weaker evidence, there’s a chance your claim may still be approved.
How to document proof of ownership ahead of time
Forward-thinking and prevention are the best ways to avoid the headaches of filing an insurance claim. Being prepared for the “ifs and whens” of life can help reduce stress and keep you level-headed when filing a claim.
Here are a few suggestions on how to get organized:
- Create a home inventory: Document your belongings by creating a home inventory. Write down the item name, make, model, serial number, value, and any other important information. Take photos or videos as you go as well.
- Save your receipts: Keep your receipts for big purchases. If you don’t want a mountain of paper receipts, store them digitally by scanning or photographing them. If you do keep paper copies, they should be kept in a fireproof and waterproof safe.
- Keep it updated: When you buy something new, add it to your list. It only takes a few minutes and can save you time and stress later on.
- Keep your proof safe: Always store your inventory, receipts, and photos somewhere secure and accessible. Storing them digitally using cloud storage or emailing yourself a copy makes them easy to retrieve from anywhere on any device. If you prefer physical copies, on the other hand, be sure to keep them in a fireproof and waterproof safe.
- Highlight high-value items: Make a note of anything over a certain dollar amount and consider getting them appraised if needed. Every insurance provider has unique thresholds that qualify as high-value, so use this as a guide for what may qualify in this category.
We do the searching, you get the savings
