How Long Should Insurance Paperwork Be Kept?

Keep expired insurance paperwork at least three years.

Current and Recent Paperwork

Current insurance paperwork should be kept readily available during the entire valid term of the document. Keep recently expired policies with the new insurance documents until the new document expires. The oldest policies should then be stored separately while storing the newest policy and most recently expired paperwork together.

Expired Paperwork

Keep all other expired insurance paperwork at least three years. This helps when dealing with your mortgage lender or car insurer concerning the length of coverage you have had and any gaps in coverage. When applying with new insurance companies, it also allows you to retrace your steps and give exact dates of gap periods whenever you're asked about them.

Bottom Line

Current and recently expired paperwork should be kept together to prove continued coverage. Hold on to expired insurance paperwork up to three years for reference. This paperwork is helpful in viewing gaps in insurance or proving that insurance coverage was current during times it was used for a claim.

References

• Bank Rate: What Financial Records to Keep and How Long to Keep Them