PROOF OF OWNERSHIP:
When a claim is submitted it is a requirement that the client supply all information and assistance that Insurers reasonably require in order for them to be able to proceed with the settlement of a claim.
It is not unreasonable for an Insurer to ask for evidence that items claimed for were actually owned by the Insured.
Bear in mind that Insurers deal with Fake and Exaggerated claims on a daily basis.
You should try to provide as much evidence for the claim as possible. In the event that you do not have a receipt/invoice for the claimed item then try and provide some other evidence that you owned the item that is being claimed for. Bank Statements are a great way to show proof of ownership. Even if the statement does not name the item exactly, it will show amounts, dates and the companies that you purchased from.
A regularly updated Asset Register is also a great idea provided it clearly lists a detailed description of the items, together with serial number/date purchased and value. These days with just about every mobile phone having a camera, it is easy to keep images of the items owned. It is even better if the image can show the time and date.
It is always a good idea to make an “insurance” file and every time you purchase assets, put a copy of the purchase invoice in the file.
Receipts/Tax Invoices/Owners Manuals/ should be kept somewhere safely.
