What do I do if my insurance company is requiring me to provide receipts for items stolen from a my business policy but I don’t have receipts, only photos?

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What do I do if my insurance company is requiring me to provide receipts for items stolen from a my business policy but I don’t have receipts, only photos?

Property owned by my business was stolen from a staged house. Furniture, decor, etc.

Asked on August 29, 2012 under Insurance Law, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Are they questioning ownerchip or value becuase they are two very different things.  If they are questioning ownership then you are going to have to figure out a way to establish same.  The facts of your particular case matter here.  If you are trying to establish value then you will need to obtain a current value for the item (that should be easily done) and then it must be discounted for use and depreciation.  Speak with an insurance adjuster as to how this is done.  Good luck. 


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