What To Do About...
Lost Insurance Policies

Lost Insurance Policies

Lost insurance policies can be a source of frustration, at the least, and a cause of great concern and financial loss, at the worst.


Here I'm specifically focusing on the problem of losing your auto insurance policy, but some of the principles and tips we'll discuss can be applied to pretty much any type of insurance you've invested your money in purchasing.


With car insurance, it's important to not only have a policy with at least a minimum amount of coverage, but also to have the proof that you have it.


Most states require you to keep proof of insurance on your person or in your vehicle so that you have it handy to show when requested by a police officer if you are stopped at any time.

An insurance card provided by the company is usually sufficient for this purpose. 


If you've washed your wallet, had a mouse invade your glove box, or suffered some other mishap that has destroyed your insurance card, contact your insurance company asap and request a new one.


It only takes a minute to sort it out, and you don't want to have the hassle of being caught without proof of your insurance policy.


But what if you've lost the actual insurance policy?  Some people may consider that to be a ridiculous prospect, but if you've seen my own desk on odd occasions, you'll know that I have complete sympathy with you.


We all have times when we fall a bit behind on our filing and paperwork goes amiss.  Once again, don't get panic, but by the same token, don't just let it slide. 


Contact your insurance company and request a copy of the lost insurance policy so you are sure you have one for your records.  You just never know when an accident may happen!


If you have trouble with the company (although you shouldn't), go back through your check register or credit card statements to identify your policy payment if necessary.

Life Insurance Lost Insurance Policies

Lost Insurance Policies

Now let's talk about what do when you're trying to locate lost life insurance policies.


It's always difficult when someone you love passes away and you are stuck wading through the paperwork trying to get things in order, while at the same time dealing with your own personal grief and loss.


I've been there myself and it is such a difficult prospect all around.


In a perfect world, we would all keep meticulous records and a wonderfully organized filing system so that our loved ones will have no trouble at all in taking care of all those little necessary details when our time comes.


It's not a perfect world, and the mundane must be dealt with, sometimes with difficulty, in spite of our desire to bury our head in the sand. 


If you're fairly sure (or even uncertain) that there is a life insurance policy in place and you can't seem to locate the actual policy, don't give up hope.  Here are some tips to help you find the needed information to ensure that proper settlements are redeemed:

  • Go through old bank statements, checkbooks, and credit card statements to identify premium payments for various policies

  • Speak to former places of employment to see if there was a group policy in place.

  • Look through address books for names of possible insurance companies or insurance agents.

  • Try to locate a possible storage box or safety deposit box that may have been used for safe keeping.

  • Have a look through previous tax returns for interest income or expenses recorded from insurance companies.

  • If all else fails, monitor the deceased persons mail for the following year as they will probably still receive payment notices, etc., if they have a policy in effect.


Hopefully one of these tips will help you locate any lost insurance policies and make your task of settling a relative's estate a bit easier.


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