Pay-later apps are mobile applications that let you pay for online and retail transactions over time. They have become more popular during the pandemic, but many do not consider if they actually own the objects they purchase using these services. Should a disaster strike leaving your home with missing, damaged, or stolen items, getting your homeowners’ insurance to cover items purchased with pay-later financing can be tricky. This article will address ownership of household items that are still being paid for and how insurance handles claims made on items.
