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Comprehensive Loss Underwriting Exchange identifies losses.The CLUE auto report provides a seven-year history of automobile insurance losses associated with consumers. The CLUE database enables auto insurance companies to exchange information without notice to consumers, unless the state requires notice about claims for the loss of property. Insurance companies disclose information about claims, even inquiries about coverage, into a central database. If a policyholder files a claim for loss, this information is added to the database. When applying for an instant auto insurance quote, this database helps determine the car insurance online quote rate.
The CLUE report also gives the potential insurer information about claims filed under any previous insurer's policy when responding to a consumer‘s instant auto insurance quote request. For example, a State Farm auto insurance instant quote, or any other company, may include information about inquiries policyholders make, even if a claim was never submitted or paid. Research auto car instant insurance quote search US to find out if the CLUE report practice is prohibited in a certain state. A consumer may also contact the state’s insurance agency. Only information about property loss claims made against automobile policies is included in the CLUE database. Information from the CLUE database in addition to a risk score make up the complete insurance risk profile in an instant auto insurance quote. However, a potential policyholder’s credit history can play an important part in an insurance company's free instant auto insurance quote. It’s a judgment about an insured’s risk potential. Insurance companies are in the business of assuming risk. The more that a company pays in property claims, the less it profits. The insurance company’s theory is that an individual's history of filing insurance claims is an accurate indicator of how likely that person is to file future claims. If a policyholder files a claim against their policy, report damage without filing a claim, or even inquire about your coverage, they may not be able to get new insurance at a good rate, or in some cases, even at all. CLUE reports are by-and-large unknown to the general public; consumers have little opportunity to prepare for an insurance review. There may be inaccurate or incomplete information disclosed in the report. This data is likely to surface only after a consumer has been turned down for insurance or is quoted with high premium rates. However, it is important to understand that a consumer’s history as a long-time customer with their prior company is not a factor of the CLUE report. You will be best served by requesting an instant auto insurance quote by more than one or two companies.
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