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This would appear to be the upshot of a new report out of InsuranceQuotes.com, a subsidiary of personal finance website Bankrate.com (RATE).
Says InsuranceQuotes.com (we'll call them "IQ" for short), the insurance industry has a "'Secret' Report That Affects What You Pay for Insurance." It's called the "CLUE" report, which stands for "Comprehensive Loss Underwriting Exchange," and essentially, it's a database keeping track of every insurance move you make. When you call your insurer to report damage to your home or auto, that goes into the CLUE database. What's more, even when you simply call your insurance agent to ask about whether a certain incident is covered by your insurance -- that goes in there, too.
And that's the real revelation today. Most consumers probably assume that insurance companies have some sort of system to track their insurance claims. After all, it's common knowledge that insurers often raise your rates after you make a claim.
But that's about all we do know about CLUE.
