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Do car insurance companies share my information?
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Car insurance companies do not directly share your personal information with each other. However, reporting claims that you have made to a national database known as C.L.U.E. (Comprehensive Loss Underwriting Exchange) is a possibility. Updating new claims becomes part of your claim history, and your insurance company will likely make these updates each time you make a claim. This database is accessible by all car insurance companies. If you are denied insurance or seek car insurance from a different insurance agency, your claim history can be accessed by the prospective insurer from a C.L.U.E. report. Many states are currently reviewing legislation to control the information that insurance companies can post in the C.L.U.E. database, as well as what information can be retrieved by car insurance companies.
Current auto insurance customers also get an annual review concerning their insurability. Querying each claim that has occurred over the last year is the primary evaluation criteria for insurers to judge whether a new claim may be filed. Credit information may be another potential means for car insurance companies to compare your information and make a decision about the probability that you may make a claim. In general, customers with low credit scores frequently make more claims than do customers with higher credit scores. Maintaining an accurate and clean credit report can actually save you money when buying car insurance.
Current auto insurance customers also get an annual review concerning their insurability. Querying each claim that has occurred over the last year is the primary evaluation criteria for insurers to judge whether a new claim may be filed. Credit information may be another potential means for car insurance companies to compare your information and make a decision about the probability that you may make a claim. In general, customers with low credit scores frequently make more claims than do customers with higher credit scores. Maintaining an accurate and clean credit report can actually save you money when buying car insurance.
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