How much will my insurance pay on an item i dont have a receipt for

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Asked August 25, 2015

1 Answer


The amount paid by an insurance company for a covered item when you do not have a receipt depends on several factors, including the terms outlined in your insurance plan and your geographic region. The terms and type of policy you have could pay actual cash value or full replacement cost.  Different carriers have different rules about items in a claim that are not supported with a paper trail, but most insurance carriers need at least some sort of proof of ownership to complete the claim process and then pay for the repair or replacement of an item. If you do not provide proof, the insurance company might state that you are not cooperating with the company under the terms of your policy and deny your claim.

Many homeowners do not have receipts. Some lose their receipts during a move or destructive event, such as a fire, flood or tornado, or they throw them out by accident. As a result, insurance agents often have to advise homeowners who do not have receipts for any stolen, lost or damaged items to return to the stores where they originally purchased the items and get copies of proof. If items were purchased with a credit card and one or more stores can't give you the proof you need, they recommend checking your credit card statements. An adjuster might also agree to your estimate of the value of any item based on the market-dictated value at the time of the loss as long as you can provide other proof, such as a copy of a check used as payment, the product packaging, a user manual or warranty paperwork. If you do not have a receipt or other acceptable proof and the insurance company decides to not pay, you might have to take the company to court.

Insurance agents recommend that their clients always have at least two pieces of evidence that prove ownership of their covered property, such as photograph or a video and receipts, because of the potential for a destructive event or theft. Since thermal receipts can become unreadable over time, carriers also recommend that you upload any proof to a cloud server as a backup for future reference.

Answered August 26, 2015 by kris721

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