State Farm Insurance - Auto, Life, Fire
- Insurance: Auto, Home, Life & More
- Claims Centre
- Financial Services
Determining ownership and the value of property that was stolen or destroyed is difficult after the loss, simply because there is nothing to view.
Keeping a detailed home inventory will help you in this situation. Be sure to keep a copy of this inventory in a safe deposit box or other location outside your home.
In addition, one or more of the following may help verify the facts:
- Photographs of inventory or a family member with item in the background
- Receipts, purchase orders, invoices
- Canceled cheques
- Credit card slips
- Charge account records
- Chattel mortgages
- Registration (guns, boats, etc.)
- Customs declarations
- Warranties and guarantees
- Instruction manuals
- Tax records
- Bills of lading, shipping receipts, tariff receipts
- Other people able to testify to existence of the property – such as delivery people, movers, repair people, cleaners, domestic servants, neighbours, relatives, friends, appraisers, vendors, sales clerks, landlords, donors, and insurance agents.
If you have a loss, you and the claims person will be using these items to establish the age and value of your possessions. Most insurance policies provide coverage for personal property on an actual cash value basis (replacement cost less depreciation). Some policies or endorsements provide coverage on a replacement cost basis -- depreciation is not considered. Discuss the details of your policy with your agent.
Make an inventory of damage: This inventory should be room-by-room, giving complete descriptions of the damaged property.
Learning Center Forum Topic
Have you ever filed a claim?
- No comments.
-
Add Your Comment
Comments come from the public: We do not verify all information shared by those commenting. Except for messages posted by Authorized State Farm Contributors, the comments, opinions, and statements made by public contributors do not necessarily reflect the views, policies or practices of State Farm and are the responsibility of those individuals who created the information.
