Insurance Documents
Disposing of Insurance Documents
Disposal
Proper disposal of insurance-related documents following their retention period requires a thorough, transparent process. We have outlined such a process on our corresponding How to Dispose of Contracts page.
Retention
Retention of insurance documentation is required to ensure that all needed materials are preserved in case questions arise regarding settlements, claims or accident reports. These documents can also be used when preparing financial statements or tax worksheets.
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 |
Other Documents
Similar tables are provided in the corresponding sections for:
- Corporate Records
- Financial Records
- Business Taxes Records
- Personnel Records
- Management Plans and Procedures
- Contracts
- Donor Records
Important note: Please consult your CPA or a New York Business attorney for specific advice on best practices and legal compliance requirements. These lists are only intended to be consulted as a general guideline.
NAID Certified
Complies with and fulfills all regulatory
requirements and policies of the
National Association for Information Destruction
What People Are Saying About Proshred®
From speaking with Jane at the office to the arrival of the on time shredding truck and a staff member, the process was pleasant, efficient,... read moreFrom speaking with Jane at the office to the arrival of the on time shredding truck and a staff member, the process was pleasant, efficient, and very reasonably priced. I highly recommend Proshred for all your shredding needs. Great people-Great service. read less
Debbie Rose4/30/2020These guys are the best! Very courteous and always willing to help or wait if we need a couple of minutes. Great... read moreThese guys are the best! Very courteous and always willing to help or wait if we need a couple of minutes. Great Job guys! read less
Colleen Vera9/27/2014Fast response on a quote and to set up an appointment by Joe. They kept me posted on the time and appointment. The two employees... read moreFast response on a quote and to set up an appointment by Joe. They kept me posted on the time and appointment. The two employees Phil & Scott were very professional, friendly and hard working and finally, the price was fair. I would recommend them to anyone. Thank you! read less
P9/27/2013Convenient, Reasonable, Professional. Would recommend highly.
Advanced Studies in Medicine Calendar9/27/2015Excellent Service. Would recommend to everyone.
Robert Bel9/27/2015Have used them several times , always professional always helpful.Have kept to the schedule which is also helpful!
Bob Fentzlaff9/27/2015scheduling appointments very easy ! good company and nice people.
Office Email9/27/2016
