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Senior Contributor

Kay's Binders

I do not see the orginial posts on your binders. I am working on mine and have a question. Do you keep the insurance information in a binder with the policies or do you just put the information in the binder?

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Honored Advisor

Re: Kay's Binders

Life insurance policies are in the binder with our wills and advance medical directives. For the auto, farmowner's, etc., I generally just stick the billing notice and coverage detail info in the yearly box of receipts and correspondence. We have all of our coverage with Farm Bureau, in Carolina and Virginia. I have all of those policies set up for premiums to autodraft anyway.

The ones I really have to watch for and make sure to pay, bind in copies with copies of the checks in payment are: Worker's Comp, and the General Liability ( Umbrella) policies for each state, which give us an overarching $3 million in coverage. They require annual applications or audits, in the case of the comp.

I always file things in light of how I might need the info back out. That drives decisions on on how I stash them.
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Honored Advisor

Re: Kay's Binders/PS

I can see where a separate Insurance binder, with a ans for health, fatmowners, auto, general liability, life, etc., could be useful. In general, the main thing is ng is to know your coverage when you have a coaim...we rarely do.
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