How to Save Insurance Policies

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When it comes to insurance policies, if you're in the business, by law depending on your state, you're required to keep copies of all policies and transactions for six to seven years. Save insurance policies with help from an expert at Combs & Company in this free video clip.

Part of the Video Series: Insurance Questions Answered
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Video Transcript

Hi, my name is Susan Combs, and today we're gonna talk about how to save insurance policies. When it comes to insurance policies, if you're in the business, by law depending on your state, you're required to keep copies of all policies and transactions for six to seven years. A lot of people have been going paperless, so they've actually been scanning these insurance policies and then keeping them either on the cloud service, or they're keeping them, you know, locally on their server. There are still a lot of old school people out there that are, like all the paper. So a lot of times what they'll do is they'll make a copy of it and then as you can imagine, keeping something of that nature for six to seven years and multiple different clients, they'll choose to either keep it with a service that will keep all the documentation on file for them, or they'll actually have a storage unit or multiple different file cabinets that they'll keep them, you know, on site as well. So the main thing to remember is you need to keep things for six to seven years, and the easiest way in this day and age with the cost of real estate going up every single day, is to scan them and to keep them on file that way.

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