Is there any reason to keep a copy of a canceled insurance policy?

Question

Is there any reason to keep a copy of a canceled insurance policy?

Answer 1

Depends on the policy type.

I think it's a good idea to keep them for 5 years.   Then if a claim crops up down the road, for the time period covered by that policy, you still have all the info.

Answer 2

I keep them for a year - because in the past I've had to go back and cancel a license plate that was STILL ON THE CAR and not turned in!

and I needed the vehicle VIN# to look up the tag number.

If you're in a state where proof of insurance isn't needed for licensing - either drivers license or tags....then there's no reason to hold onto them

Answer 3

By cancelled, I'm assuming the policy was indeed cancelled and not just expired?  In any case, there really should be no reason to keep it unless perhaps you're needing to show proof of prior insurance to another company or if you have a claim still pending.

Answer 4

not if its cancelled and nothing of value is due you or anyone else

Answer 5

i agree, i tend to keep a copy of my decs for about 3 yrs. because thats the statue of limitations in my state.  you never know what could happen and you will never remember who you were with that long ago and the policy numbers.