How to Prove Ownership and Value for an Insurance Claim

To prove ownership and value for an insurance claim, keep the receipt, clear photos, the serial number or IMEI and, for jewellery, a valuation certificate, with copies stored away from home. Without a receipt, bank statements, transfer records, warranty cards and photos of you with the item help. Collect it all before a loss.

Key takeaways

• An insurer needs to see that the item existed, that it was yours and what it was worth. A theft claim usually also needs a police report.
• A receipt is the strongest proof. Without one, several smaller pieces of evidence together can make a convincing case.
• Photograph each valuable item in full, with a close-up of its serial number or IMEI and of any marks that make it recognisable.
• Keep copies somewhere a fire, flood or thief cannot reach, because your phone may be lost along with everything else.
• On VaultCova, an item with no photo or receipt on file costs 10% more to insure. Adding one removes that charge.

What does an insurer need you to prove?

Every claim for lost or damaged property comes down to three questions:

1. Did the item exist? Photos, serial numbers and the box or warranty card show it was real.
2. Was it yours? Receipts, bank records and photos of it in your home link it to you.
3. What was it worth? Receipts, current retail prices and valuations show its value. See how to value your assets for how to set that figure.

Imagine two people who lose the same laptop in a burglary. One has the receipt, a photo and the serial number saved, and sends them the next day. The other remembers owning a laptop but has nothing to show for it. The second claim is likely to face weeks of questions and may be settled for less.

Why do receipts matter, and what if you do not have one?

A receipt is the strongest single piece of proof because it shows the seller, the date, the exact item and the price. Ask for an itemised receipt or invoice that names the model. Many shop receipts are printed on thermal paper that fades within months, so photograph them the day you buy.

If you have lost the receipt or never got one, other evidence can still help:

• Bank or card statements showing the payment
• Transfer records with the seller's name, which are often the main record of a purchase paid by transfer
• Order confirmation and delivery emails from online stores
• WhatsApp chats with the seller agreeing the price and date
• Warranty cards and registration emails from the manufacturer
• The original box, which usually carries a sticker with the serial number
• Photos or videos of you with the item, including older social media posts
• Service or repair records and installer invoices, for example for a generator or solar setup

None of these is perfect on its own, but together they build a convincing picture. It is up to the underwriter to decide how much weight to give each piece, so the more you have, the better.

How should you photograph your valuables?

A quick snap of a room is not enough. For each valuable item, take:

• The whole item from two or three angles, in good light
• A close-up of the serial number, IMEI, model plate or engraving
• The receipt, box or warranty card next to the item
• Any scratches, marks or accessories that make it recognisable
• A wider shot showing the item in place in your home

Keep the original photo files rather than screenshots, because the original file records the date it was taken. Photograph jewellery against a plain background with a ruler or coin for scale.

Where do you find serial numbers, IMEI and valuations?

A serial number or IMEI (the unique number every mobile phone carries) links a claim to one particular unit. It also helps the police identify stolen goods if they are recovered. Here is where to find it:

• Phones: dial *#06# to show the IMEI. It is also on the box and in the settings.
• Laptops: on a sticker underneath, or in the system settings
• TVs, fridges and generators: on a label on the back or side
• Cameras and lenses: under the camera body and on the lens barrel
• Vehicles: the chassis number and engine number on the registration papers

For jewellery, watches, art and specialist equipment, a photo shows what the item looks like but not what it is worth. Get a written valuation certificate from a reputable jeweller or valuer. Jewellery insurance explains what a good certificate includes.

Where should you keep copies?

Paper receipts burn with the house, and a phone full of photos can be stolen in the same burglary. Keep your proof away from your home:

• A cloud folder called "Home inventory", with subfolders by room or by category
• A WhatsApp chat with yourself, where you forward photos and receipts as you buy things
• A copy on a family member's device

In VaultLog, VaultCova's asset register, you attach photos and receipts to each item as you log it. Cova reads them and notes what it sees, and the record stays safe even if your phone does not. If you are starting from nothing, our household inventory checklist takes you through every room.

What will an adjuster ask for after a loss?

A loss adjuster is a specialist an underwriter may appoint to investigate and value a larger claim. Whether or not one is involved, expect to be asked for:

• A completed claim form
• A list of what was lost or damaged, with values
• Proof of ownership and value for each item, as above
• A police report for any theft. See getting a police report for a claim.
• A fire service report, if the fire service was called
• Photos of the damage and the scene, taken before anything was moved
• The damaged items, kept for inspection
• A repair report or quotation for damaged electronics

When something happens, photograph the scene where it is safe to do so, note the date and time, and report to the police for theft. Then tell your insurer promptly. A claim has to be made while the policy period is still running, so do not wait until after your cover ends. How to file an insurance claim goes through each step.

Does proof change what you pay for cover?

On VaultCova it does. You can always buy cover without a photo or receipt, but an item with neither on file is priced 10% higher, because the underwriter carries more uncertainty. This extra charge is called a loading. Adding a picture before you pay removes it.

As an illustration, take a laptop worth ₦1,200,000, a TV worth ₦850,000 and a phone worth ₦750,000, ₦2,800,000 in total. At an electronics all risks rate of 2.75% a year:

• With photos or receipts: ₦2,800,000 x 2.75% = ₦77,000
• With no proof on file: ₦77,000 + 10% (₦7,700) = ₦84,700

Photographing three items saves ₦7,700 a year, and the same photos make a claim much easier to prove. Cova quotes your exact figure before you pay.

Frequently asked questions

How do I prove ownership without a receipt?

Collect as much other evidence as you can: bank statements, transfer records naming the seller, order emails, warranty cards, the box with its serial sticker, and photos of you with the item. Together they can make a strong case, although the underwriter decides how much weight to give each piece.

Is a photo enough proof for an insurance claim?

A photo shows the item existed and that you had it, but it rarely proves its value. Pair it with a receipt or bank record, and with a close-up of the serial number or IMEI.

How do I find my phone's IMEI number?

Dial *#06# and the IMEI appears on screen. It is also printed on the original box and shown in the phone's settings.

How long should I keep receipts for insurance?

Keep them for as long as you own and insure the item, and photograph paper receipts the day you get them.

Do I need a police report for a theft claim?

Usually yes. Most theft claims need a police report, so report the theft straight away and keep a copy of the report with your proof of ownership.

Can a claim be reduced if I cannot prove value?

It can be delayed while the underwriter asks for evidence, and if the value cannot be shown, it may be settled for less than you expect.

Start a free vault, photograph your five most valuable items today, and ask Cova when you are ready to cover them.