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How do insurance companies know about my previous claims? Michigan auto, home insurance

posted Mar 30, 2016, 7:36 AM by Jason Grubbs   [ updated Sep 14, 2016, 10:37 AM ]
One of the factors affecting the cost of your home and auto insurance is your prior claims history.
Insurance companies are in the business of assuming risk; one of the tools they use to assess their level of risk is previous losses.

How do insurance companies know about your previous claims history?

Insurance companies utilize a little-known database referred to as "CLUE", which is short for the Comprehensive Loss Underwriting Exchange.

Each insurance company provides information to the CLUE database about filed claims including the date of loss, type of claim, and amount(s) paid.

This database may then be accessed and reviewed by every insurance company when you're shopping for insurance.
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Did you know?

You have the right to access your CLUE report and to dispute inaccurate or incomplete information.

You can visit LexisNexis Personal Reports to obtain and review, free of charge, your home and auto CLUE reports.  The site also provides information on disputing inaccurate information.