General Question

janbb's avatar

Do you keep expired insurance policies when the renewal comes it?

Asked by janbb (62550points) May 30th, 2023

Is there any reason to?

Observing members: 0 Composing members: 0

11 Answers

chyna's avatar

I do. But there is no reason to keep them. I’m slowly going through my file cabinet to get rid of the stuff I don’t need.

JLeslie's avatar

I keep mine too long. I usually get rid of them when they are 3+ years old.

Hawaii_Jake's avatar

Now you’ve made me think of my closet under the stairs. Oy.

I keep the paper until I go through my files and chuck a bunch of old stuff.

Hawaii_Jake's avatar

Now that I think about it, I switched insurance companies last year. They gave me the option of receiving all the papers electronically, which I opted for. Yay! Less stuff for me to throw in the closet.

janbb's avatar

^^ I like the insurance of paper for some things.

LuckyGuy's avatar

I keep it for a while – one or 2 years. I’m not sure why. Maybe I have the suspicion that they are going to secretly change something without me noticing.
“Oh! A meteorite struck your house? Too bad. That coverage was removed in 2020 after the Space Junk Protocol of 2019. You are responsible for the hole in your roof now.”

RocketGuy's avatar

I have almost all of mine, and they are taking up a huge amount of storage space. I want to keep only a year’s worth so I can tell how much they are raising rates the next time. I don’t see any usefulness beyond a year old policy since it already expired. Can’t claim anything from them anymore.

LuckyGuy's avatar

See? this is why everyone should have a high efficiency wood burning stove. When you finally decide to get rid of them wait do it on a cold day when you furnace would normally be running. Then start a fire in your stove and enjoy the free heat.
Rough numbers: 20 pounds of paper delivers about the same heat as a gallon of heating oil worth about $4.25 now. If you heat with electricity it saves about $2.50.

raum's avatar

I usually keep the current and last expired policy. But don’t think it’s necessary to.

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