Documenting Ownership: What Does a Home Insurance Agency in Milbury, MA Take to Authenticate Home Items?

It is a topic that is often under-discussed. A home insurance agency in Milbury, MA will cover items that are damaged in a fire or stolen. But, how are these items authenticated? Couldn’t a policyholder just “say” they owned a Playstation 4, an expensive leather couch set and, well, an original Monet for that matter?

A purchasing receipt is the most obvious way to authenticate ownership. The receipt carries the date the item was purchased and the name of the purchaser. It is the most foolproof way to authenticate a purchase. Thankfully, it is not the only way. Receipts can fade and get lost. Policyholders could take photographs of the receipts to further back them up, but it may be too late. What else will a Home Insurance Agency in Milbury, MA take to confirm ownership of items in case of them being lost or damaged?

Warranty

Warranty or owner’s manual is a great way to confirm ownership. It is an implied ownership. A warranty or owner’s manual is usually present for larger item purchases, such as a furniture set, television, video game system, and others. It is not the best way to authenticate a purchase, but the insurance company will typically accept it.

Digital Back-Up

In this day and age of digital receipts, email, Google Docs, and other resources, a digital warranty, receipt, or confirmation of any kind is perfectly acceptable. These digital copies have often replaced physical print-outs. Some companies even ask their customers if they would like a receipt emailed to them.

Credit Card Receipts

A credit card company will often have backed files that go back years for purchases. Many accounts can be accessed online. A policyholder can pull up a credit card statement from a long time ago and print it out. It could even be sent by email to the insurance company. Policyholders capture a digital photo of the screen where the statement is displayed.

Contact us for a policy that is fair and reasonable. The team will always work with policyholders when the unspeakable happens. Policyholders can make sure all documents are easy to access, potentially backed up on a folder online or in a physical home safe.

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