In our world of ApplePay(R), Venmo(R) and card transactions, nearly zero Americans save and maintain their purchase receipts. The result is that ‘proofs-of-purchase’ or ‘proofs of ownership’ are not readily available to quickly document a property claim - this is especially true in the case of fire. Although proofs of purchase are not the only way to establish ownership of lost items, they become a significant settlement factor on expensive items. While family photos, video and other imagery can demonstrate that you possessed the items in question, many insurance companies will point out that “possession does not constitute ownership”.

When you make a property claim with your own insurance company, the insurance policy(contract) language mandates that “you”, the insured, must “prove” the amount of your losses. This “proof of loss”, as it is known in your Insuring Agreement, consists of several very specific items:
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1. In order for something to be insurable, you must first have an “insurable interest”. This means that you must have an economic interest in the property being insured. For that reason and others, insurance adjusters typically request that insureds provide the insurance company with ‘proofs of ownership’ and/or ‘proofs-of-purchase’ or both.  These requests most often accompany higher-valued assets but increasingly, they are made across all lost, damaged or stolen property.

2. Your insurance contract(policy) language requires (in Section 1: Conditions: Your Duties Following a Loss) as a part of a sworn statement, several bits of data and documentation that the insurance company will utilize to calculate any proposed claim settlement. This information is only the minimum required by your insurer to process the claim. If you provide only this very minimum of information, you can be reasonably certain that your claim will be treated with a proportionate amount of detail and consideration when the settlement calculations are complete - meaning: if you provide very little information, very little information will be used by the insurance company to evaluate the extent of your losses.

3. Beyond the very minimum of information required by your insurance contract, there is additional information that should be added to best-support and provide credibility to your claim. Some of this information is found below. Any additional information that you possess that will support the most proper valuation of your claim, should be added as well and must be considered pursuant to the Broad Evidence Rule. 
In Summary:
The quality and sufficiency of the supporting information provided by you, or your appointee, to your insurance company has a direct, proportionate, and nearly indelible bearing on the ultimate value of your settlement. 

‍FWR Professionals provides certified third-party claim documentation and valuation services to property owners that are designed to expedite claim settlement procedures. In most cases, these fees are paid by insurance. For more information, call FWR Professionals for a free consultation. 

*This information applies equally to structure damage however, this article is written strictly to address unscheduled personal property and content claims.

‍Disclaimer: FWR Professionals, Div. is not a law firm and does not provide legal advice or claim advocacy services. If you have questions about your policy language or the interpretation thereof, please review your insuring agreement and all endorsements with your insurance broker and/or retain the services of a competent attorney specializing in insurance matters.