Using Time Wisely

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Vehicles: Car #2 – Insurance Documents

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Photograh Credit: Flickr (Auto Insurance)

If your fall is turning over more than one new leaf, then you are not alone. Life stays really busy which is why staying organized remains a top priority for me.

The better organized I am, the more efficient and less overwhelmed I feel. By getting and keeping the paperwork and important documents organized and filed, I can quickly access these items while using time wisely.

Last week, I concluded the items in the tenth file slot of Box 1 of 3 in my important documents filing system. The eleventh file slot houses documents relating to our second vehicle.

TIP: If you are a one-car family with a boat, then your boat items could be housed in this eleventh file slot. Remember to customize your filing system to meet your needs. I will share the contents of my filing system as an example of what works for me.

The first set of documents housed in my eleventh file opening are these insurance documents for our second vehicle:

1. Current Insurance Receipt

In case there is a discrepancy, I keep a copy of the current premium payment receipt. Though I have never had a problem, I keep it just in case it is needed.

2. Current Insurance Policy

This booklet is a comprehensive explanation of our insurance policy detailing our coverage, including exclusions. If I have a question regarding coverage, this document outlines the details. Should I need to file a claim, I will read the corresponding section of this booklet to be sure the claim meets all the requirements.

3. Current Declarations Page

Besides proof of insurance, this one-page document itemizes the coverage and limits with the premium costs. In the event a claim needs to be filed, this document provides a summary of our deductibles and maximum limits for this policy.

4. Previous Insurance Receipt

Since we pay semi-annually, I will keep 1-2 previous payment receipts for verification of continuous coverage. I also like to compare the cost of this year’s policy’s premium to those of last year. If there is a significant increase or decrease, I will research to be sure we have adequate coverage.

5. Previous Declaration Pages

When my insurance company makes a change to the coverage or limits of my policy, I receive written notification with the details. If the need arises, I can compare the former coverage with the change. I keep these declaration pages in this file slot in the event I need clarification.

6. Initial Insurance Binder

When we sold our old Honda, which was covered by this policy, we turned around and purchased our new-to-us Honda vehicle. The policy was transferred from the old Honda to our current Honda. At the time of transfer, we received this insurance binder detailing the transfer. I keep this document showing the transfer in this file slot with my insurance documents.

7. Certificate of Guarantee Renewal

Having been with State Farm Mutual for over 10 years, we have earned the guarantee renewal certificate for all vehicles insured through State Farm. I shared the details of these benefits in the Vehicles: Car #1 – Insurance Documents.

8. Privacy Policy Information

This letter, sent annually from our insurance company, explains how they use our personal information. I file this correspondence in this opening with our insurance documents.

All these items are paper clipped together and housed in this eleventh file slot in Box 1 of our important documents. As I get new documents, I will either replace expired items or add it to these documents. Keeping them together under the vehicles category helps me stay organized.

Filing additional items takes seconds without misplacing or stashing in a currently convenient place where I will forget to look later. In using time wisely, I have found an organized system saves my family money, energy, and time. Wishing you the same success . . . happy organizing!

Question: How many vehicles (cars, boats, and RVs) does your family own, rent, or lease? If you feel comfortable answering, please add your answer to the comments.

Vehicles: Car #2 – DMV Records

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Last week I itemized the eight insurance-related documents kept in the eleventh file slot of Box 1 of my important documents. Another set of documents in this file opening are the DMV (Division of Motor Vehicles) records for our car #2.

Our DMV records consist of two documents:

Registration

Our vehicle registration arrives attached to the receipt via the mail. Before separating the registration from the receipt, I make a copy. The copy is put in this file slot. I then separate the registration document and place it in an envelope in my glove compartment.

License Plate Decal

This decal is sent shortly after payment of our vehicle registration. When I receive it, I make a copy. Then I apply the sticker to our license plate. The copy and the original document are stapled together and placed in this file opening.

The registration and decal documents are paper clipped together and placed behind the insurance documents in this eleventh file slot. The last set of documents in this file opening are the ownership papers which I will cover in detail next week. Until then, keep using time wisely as you get your documents organized!

Question: Where are you in your document organization project? Please add your answer to the comments.

Vehicles: Car #2 – Title or Loan Documents

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The eleventh file slot in my accordion filing system houses one more set of documents. These documents are housed behind the insurance and DMV records and include the following items:

Title or Loan Paperwork

Our original title and a copy of our title are the first two documents in this remaining set of paperwork. If I had a loan on this vehicle, I would place those documents here.

Copy of Previous Title

Having purchased this vehicle from a private owner, I kept a copy of the completed title with the seller’s and buyers’ (Paul and my) signatures. I made this copy before turning it into the DMV in exchange for our current title.

Bill of Sale

This document proves the sale of this vehicle from the seller to us. Our bill of sale includes the date, names of seller and buyer, and purchase amount.

The title, copy of previous title, and bill of sale paperwork concludes the documentation housed in my eleventh file slot for our second vehicle.

Just as my documentation from vehicle 1 to vehicle 2 is different, so your records may also be different from my paperwork. By having a place for these documents and knowing what to add to these categories will be a help in using time wisely when you need to access these documents and records. Keep plugging along in your quest for document organization. Happy sorting!

Question: How is your vehicle document file different from mine? Please add your answer to the comments.

Credit Check-up: October 2011

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Photograph Credit: Flickr (Dan Eriksson)

Before continuing with the last file opening in Box 1 of my important documents, I need to do a little maintenance. Having ordered our credit reports this past week, I realized I had not posted a friendly reminder this month.

If you are following my recommended schedule for requesting your credit reports, then it is time to check another report from a credit bureau. You may make your request by phone, mail, or through their web site.

Before ordering your credit report, be sure you have waited at least one year since your last request for that report. If you make a second request within one year, then you will be charged for the second request. With the option for a free report each year, you do not need to pay a service fee for your report.

In using time wisely, I request my husband’s and my credit report every 4 months. By alternating which report is checked, I can keep an eye on any irregularities throughout the year. This month, I requested Paul’s TransUnion report and my Equifax report.

When the reports arrive by mail, I will review them for errors. If a discrepancy is noted, then I will dispute it. If all is correct, then I will replace this report with last year’s record in the first file slot of my Box 1 documents. I will also run a free TransUnion credit score. After comparing this score with last year’s record and noting any changes, I will file this record with the current credit report. The file will then be put away until February 2012.

By using time wisely and keeping my important documents’ file organized and up-to-date, I can easily find items needed within a short block of time. In the event I need to access these records, I will have accurate information at my fingertips. Keep plugging along. Your investment of money, energy, and time in getting these documents organized will save you frustration, headaches, and irritation in the future. Happy Organizing!

Question: How many discrepancies are your finding in your credit reports? Looking for your answer. 🙂

Vehicles: Miscellaneous – Driving Records

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Photograph Credit: Flickr (Scott Schrantz)

The time has come to address the final documents in the last file opening in Box 1 of my important documents. This twelfth file slot hold miscellaneous items related to the fourth category: Vehicles. Like many other slots, this file contains three sets of documents. The first set contains records pertaining to our driving.

Paul’s Driving Records

1. Official 10 Year Driver Record. This record contains our license information, address changes, any suspensions, violations, points, or accidents. I check our driver records to be sure all the information is accurate.

You might also want your record if your employer requires a background check or if you are shopping around to lower your car insurance. Knowing what is in your driving record will help you head off any issues.

Our state’s DMV (Department of Motor Vehicles) office offers both a 3-year record and a 10-year record. To be thorough, I request our 10 Year record either every 5 years or 6 months after a change. (For example, I will be requesting my new driver record in the spring after the results of my speeding ticket are resolved at the end of November. Yeah, I posted on Facebook about my lovely speeding ticket. Are you following me on Facebook, yet? If not, come “like” the page and join in.)

To get your 10 Year Driver Record:

1. Go to your favorite search engine (i.e., Swagbucks, Google, etc.) and type in “(your state) DMV.” If you live in South Carolina, then type “South Carolina DMV.”

2. Click on the web link to your DMV site.

3. If there is a Search box, type “drivers record.” If there is not a Search box, then scan the available links for on-line services or public services.

4. Look for a link to “Obtain your certified driving record.”

5. Follow the instructions. The South Carolina DMV offers these instructions:

Your Driver Record contains a history of information related to your driving privilege.  You may request a 3 year Driver Record or a 10 year Driver Record.  An “unofficial” version of your Driver Record will be made available to you online in Adobe PDF format. An official “certified” copy of your Driver Record will be mailed to your address of record.

To complete this transaction:

    • You must know your driver’s license or identification card number.
    • You must have a valid VISA, MasterCard, or Discover card that will be charged the amount due.
    • You must have Adobe Reader installed.
    • The cost of an unofficial or certified copy of your South Carolina driving record is $6.00.

After making your payment, your unofficial driver record should open in a PDF document for you to print. The official certified copy will come in the mail later.

2. Any Citations or Accident Documents. If there are any records in his file then I staple together all documents pertaining to one incident. If there are numerous incidents, whether our fault or not, I keep the records together for each occurrence.

All of Paul’s driving records are then paper clipped together.

Tracy’s Driving Records

1. Official 10 Year Driver Record. This document showed a clear license with only change of address and surrendering my Pennsylvania license for a South Carolina replacement. Now, I will get a speeding ticket violation added after my court date. Arrgh! Have I mentioned that I really hate speed traps.

2. Speeding Ticket Documents. Once I complete the court hearing and get my judgment, I will staple together all the documents relating to this speeding ticket.

Both of my documents will then be paper clipped together.

With both sets of paper clipped documents, I will then use another paperclip to hold both of these sets of driver records together. This packet is then housed inside the twelfth and final file opening in box 1 of my important documents. Keeping these documents organized takes valuable time. However, by using time wisely one step at a time, you can get those important documents filed and organized. Keep sorting and filing!

Question: How often do you request your driver record? Please add your answer to the comments.