When you realize that your home insurance basically covers everything in it up to a certain cash limit, it’s not hard to see how an unscrupulous person might take advantage by claiming to own things that they do not. This act of fraud costs insurance companies millions of dollars, so you can understand why they may not be completely trusting when you tell them what assets are in your home.
The good news is that you don’t need proof of what items you own when you insure your home. True, you might want to get some documentation for higher value items that you purchase additional coverage on, such as jewelry or artwork, just so that you can get the value correct, but the insurer rarely asks for proof of ownership up front. When they might ask for it is when you file a claim.
When filing a claim, some items are assumed to be in your home, like furniture, a television, a microwave oven and such, but others, like a $10,000 entertainment center or $50,000 painting, will probably require a bit of proof. Proof may come in the form of a receipt, an appraisal, a photo, a video or sworn statements of people who have seen the item(s) in your home. Again, you don’t need these things in order to get insurance, but you probably don’t want to realize you don’t have them when you try to make a claim, either.
If you have any questions about what proof of assets you need in order to be sure that they are ensured, you should call us today. As your independent agent, we can answer all of your insurance questions and get you quotes so that you’re sure you’re getting the best possible rate