Leaving important documents lying around is just not smart, largely because your info could get jacked.

We got up close and personal with five kinds of documents we found on our coffee tables at home to let you know when, how and if you should throw them away. It might also be time to invest in your own shredder; you can pick one up at most office supply or department stores.

Aside from the proof of insurance card you'll keep in your vehicle, you may have other documentation about your policy. If at any time the DMV or other authorities suspect that you've had a lapse in coverage, they might require you to prove you had insurance. Hold on to proof of your coverage to be on the safe side.

You should keep credit card, checking and savings statements for up to seven years, if they include tax-related information. If there isn't any long-term significance for taxes or other purposes, keep them for about a year, then shred them.

Some dumpster-diving degenerate could walk away with your 16-digit card number and the three secret numbers on the back! You might as well reveal where that embarrassing mole is, too. Shred any old credit or debit cards (we mean the actual cards, not the statements), as well as those "free" promotional or pre-approved cards you get in the mail.

The IRS can challenge your tax returns for various reasons, but each reason has a "period of limitation," after which they can't challenge the return. The longest period of limitation is seven years. Be sure to keep your tax papers for at least that long, in case you're audited. Visit irs.gov for more detailed information about the reason for auditing and your specific circumstances before shredding old tax documents.

Your paycheck stubs have so much information, such as your name, address, social security number, gross pay and deductions, that if the wrong people get a hold of them they could seriously damage your credit report. You should hold on to them for at least one year. That information should be reflected cumulatively in your W-2 form, which you'll keep with your tax papers (so it won't be gone forever). After that, shred away.

Sources:

idtheftcenter.org; Deseret News, findarticles.com; businessrecords.com; bankrate.com; carinsurance.com; nbc4.com; realestate.msn.com; ins.state.ny.us; irs.gov; fdic.gov; fellowes.com; fool.com; hrblock.com; bbb.org