Insurance Documents Retention
How Long to Keep Insurance Documents
Understanding which insurance records to keep and which ones to toss can be a confusing minefield if you don’t understand the best practices for insurance document retention. To safeguard against throwing away documents that you might need later, it’s important to have a records retention policy and stick to it. This will make it a lot easier for you to know what claims are covered, as well as ensure that relevant materials are available if settlements, accident reports, or claims are called into question.
Suggested Retention Duration for Select Insurance Documents
| Document Type | Suggested Minimum Retention |
| Internal accident reports and claims | 7 years after final settlement |
| Correspondence with insurers regarding claims | 7 years |
| Depreciation schedules | Permanently |
| Garnishments | 7 years |
| Insurance policy documentation | 3 years after expiration |
| Official insurance accident reports, claims, records, etc. | Permanently |
| Inventory records | 7 years |
| Property appraisals of owned assets | Permanently |
| Workers compensation documentation | 10 years after the first closure |
Important note: Individual needs can differ greatly in regards to record retention. These are just suggested time frames for insurance record retention, so make sure to consult your accountant or a lawyer for advice on record retention policies.
Disposing of Insurance Documents
Once the retention period concludes for certain types of documents, it is imperative that you dispose of them securely. Thoroughly shredding the records is the best way to protect your sensitive insurance information so that it cannot be accessed by unscrupulous individuals. At PROSHRED® Columbus, we provide various information destruction services to fit your needs, from digital record destruction to secure paper shredding services, so you don’t have to worry about keeping your insurance documents secure once they reach the end of their lifespan.
What People Are Saying About PROSHRED®
For $20, Proshred took my 13 gallon bag of paper and shredded it before me. Service was to the point and brief. Note the last... read moreFor $20, Proshred took my 13 gallon bag of paper and shredded it before me. Service was to the point and brief. Note the last shredding job is ar 3pm [not 4pm as stated on the Google Maps]. read less
C. Ojar8/26/2022Excellent service.
Kelly Sullivan4/21/2022Proshred was professional from getting the quote to the pick-up of the shredding, Ricardo was very friendly and accommodating. Very Happy would recommend this company.
A Forshee12/03/2021Jose & Ricardo were absolutely fantastic! They were so professional, timely, efficient and kind during delivery of our shred bin. I would recommend PROSHRED to... read moreJose & Ricardo were absolutely fantastic! They were so professional, timely, efficient and kind during delivery of our shred bin. I would recommend PROSHRED to anyone based off our phenomenal experience with these two gentlemen. read less
John Ammatuna12/03/2021We used Proshred to clean up a ton of old documents at our retail location in Hartsdale, NY. The team was extremely responsive to every... read moreWe used Proshred to clean up a ton of old documents at our retail location in Hartsdale, NY. The team was extremely responsive to every email to leading up to and following the appointment. The pair that came onsite to do the shredding were enthusiastic and efficient. It was a true pleasure to hire the team at Proshred for our project.We were able to watch the shredding from a camera on the truck to ensure our confidential documents were completely destroyed.I highly recommend Proshred for their excellent work ethic. read less
Laura Violet6/30/2021Great service at great rates. They were very accommodating to even small jobs and very convenient from all major highways for a drop off.... read moreGreat service at great rates. They were very accommodating to even small jobs and very convenient from all major highways for a drop off. Steve is very professional and the drop to payment takes only minutes. They also offer at home service, which is great for larger jobs. read less
RMM Finance Dept.12/31/2020Because of the virus my husband was cleaning out his home office, as a realtor he had documents more than 10 years old. We... read moreBecause of the virus my husband was cleaning out his home office, as a realtor he had documents more than 10 years old. We didn’t know where to go, and found Pro Shed online. We set up an appointment for drop-off with Steve. He was very accomodating, professional and courteous. When he noticed my husband’s military hat, he went out of his way to assist while still being socially distant. The documents were extremely sensitive due to the nature of my husband’s business. We now have a much more organized office, we would definitely recommend Pro Shred and Steve to other businesses,friends, and relatives! Thank you Steve! read less
Marietta Sanzo12/31/2020