Clue Report can affect insurance rates

Many insurance companies use the clue report to determine how much risk you are to insure. The CLUE report has information about your claim history for the last 5 years. It's way for insurers to share your information with other insurers about your record of filing claims.

ChoiceTrust by ChoicePoint Asset Company created CLUE. It stands for comprehensive loss underwriting exchange. You can get a CLUE report for property and automobile. Many insurers use this report to determine your risk. Then in 2003, under amendments to the FCRA, called the FACT Act, now allows you to get your free C.L.U.E report once a year. It's good to get a free CLUE report to make sure that the information is accurate. If something is inaccurate you may dispute it.

Also if you are interested in purchasing a home you may want to get a report for the physical address because sometimes insurance rates will be high based on past history of the home. There are CLUE reports for the address of your property, but it's not free. It's wise to get a CLUE report for your home, or a home you may be planning to buy or sell.

Your CLUE report does not contain anything about your credit score. While consumers may be aware that some insurance companies use your credit score, age, and many other factors, fewer know that they use your CLUE report. It makes sense that insurance companies use such a service, and it rewards people that file fewer claims with a lower insurance rate.

http://en.wikipedia.org/wiki/ChoicePoint
http://www.privacyrights.org/fs/fs26-CLUE.htm