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Homeowner's Insurance Guide 101: one of the most common reasons for someone not getting the dollar amount you were hoping for when filing a home insurance claim for personal property is lack of documentation. Do you save your receipts or toss them in the trash along with the shopping bag and packaging that came with your purchase? More often than not people discard these.
You don't have to go overboard and retain receipts for a spare pair of shoelaces or a $10 hat. But more expensive items like televisions, computers, artwork, large furniture and more should be your main focus. You want to make sure that items that would cost a significant amount of money to repair or replace are the ones that you retain receipts for. That way you have documentation that you can provide your insurance company with if needed.
It is best to keep these in a fireproof box or safe deposit box so that if something happens to your home, the receipts are safe. Do this with appraisal documentation of valuables like jewelry as well.