Can I throw away my policy after it has expired?

Even after your homeowners policy has expired, you should keep the policy. Others may still file personal liability claims against you that will be covered by the expired policy. The personal liability portion of the policy covers you for occurrences that took place during the policy year, but does not require those claims to be made or presented to the insurance company during the policy year. The law in most states allows for a period of time, known as the statute of limitations, after the incident in which to make the claim. The statute of limitations can, in some instances, be several years after the occurrence giving rise to the claim. Therefore, it is important that you keep your copy of the insurance policy in a safe place.

It is not unheard of for the insurance company to have different information than what your policy reflects.In a dispute with your insurance company, your copy of the policy is your proof of coverage. Because policies are often modified by endorsements after the initial policy has been issued, it is also possible the insurance company may not be fully aware of the changes. By maintaining your copy of the policy and all the endorsements, you will have the most updated version of your coverage.

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