Is it necessary to hold on to old auto insurance bills?

Question

I switched auto insurance companies recently and I was just wondering if there is any reason at all I should keep my old auto insurance bills from the old company. I'm the one who HATES clutter and I want to get rid of things I don't need anymore. Thanks.

Answer 1

I recently  changed  to  AAA.  If no claim  pending  it is  not  necessary to keep the  old  bills.  But  keep policy number  for  a  couple  months for refernece if  need  be.

I now  use  the  plastic  shoe  boxes  to  weed out  things  then go through  boxes  and  thin  more later.  I label  each one,  such  as  bills  paid,  autos,  bank,  charge  accounts,  phone,  utilties,  TAX  reciepts,  house  repairs,  Working  well for me  so far.

Answer 2

It's just worth keeping your old account numbers. You don't need to keep all the paperwork. If for any reason you do need it again, you have your account number, so you can phone the insurer who will have a copy and either get them to give you the information on the phone, or they can send you a copy.

Answer 3

There are only 2 reasons to keep the insurance bills. First reason would be if you are in business for yourself and they are being used as a tax write off. ( 7 years for records )

The second reason would be if you payed on a monthly bases and had the interest to write off. ( 5 years for personal )