Oklahoma Theft Claims: How to Prove the Value of Your Losses

Posted October 25, 2017

Sadly, theft remains a serious problem in the United States. According to research conducted by the Insurance Information Institute (III), between the years of 2010 and 2014, theft was the fifth leading reason why property insurance claims were filed, behind only fire damage, storm damage, water damage and bodily injury claims.

If you have been a victim of theft, you may have a simple question on your mind: How can I actually prove the value of my losses? There is not always an easy answer to this question. The valuation of theft-losses leads to many property insurance disputes in Oklahoma. Unfortunately, the big insurance companies are known to try to undervalue theft damage claims.

If you have been the victim of theft, our law firm is here to help. To ensure that you are able to maximize your recovery, you must proactively and diligently document your losses. Here, our experienced Oklahoma City theft claims attorneys explain how you can establish the value of your theft damages.

 

Four Common Ways to Prove the Value of Your Theft Losses

1. Financial Documentation

In theft damage cases, the best form of evidence is financial documentation. Whether it is receipts, credit card statements, bills, or any other type of financial record, you need to gather as much of this evidence as you possibly can. Of course, you may not have full financial records for all of your property, but the more you can get your hands on, the easier it will be to prove your losses.

 

2. Photographs

As with all other types of property damage claims, photographs are a valuable piece of evidence. If you have photos of the property that was stolen from you, please be sure to organize those photos and turn them over to your insurance company. They are a form of supporting evidence that can help you prove your loss.

 

3. Professional Estimates

If there are disputes over the specific value of your stolen property, you may need to seek assistance from a professional appraiser. By getting a written professional estimate as to the worth of your property, you can supply the insurance company with compelling evidence that indicates the true value of your losses.

 

4. A Sworn Affidavit

Finally, you can also sign a sworn affidavit, testifying to what was stolen and how much you paid for it. This is important, as your own testimony regarding your losses is a legitimate form of evidence. Indeed, it may be the only form of evidence that you still have in your possession. Accessing old records for every piece of property you own is not always possible. If your insurance company is giving you any trouble or is refusing to accept your statement, you should consult with an experienced property insurance lawyer immediately.

 

Was Your Theft Damage Claim Denied By the Insurance Company?

 

We can help. At The Bennett Law Firm, we are proud to serve property owners in Central Oklahoma. To get assistance with your theft damage claim, please contact our team today. Initial legal consultations are always free of charge, and we never collect our legal fee unless we help you recover compensation.