ATLANTA — It’s important for you to get a clue about your C.L.U.E report.
“C.L.U.E stands for comprehensive loss underwriting exchange,” said WSB consumer advisor, Clark Howard. He explained your C.L.U.E is similar to a credit report, but for insurance. He said it can impact you in more ways than one.
“What it does is it decides what you’re going to pay for homeowners and auto insurance.” Howard said.
Lori Silverman runs Team Clark and the Consumer Action Center. She said consumers need to be aware of the information on their report.
“So, if you make claims on your homeowner's or on your auto insurance, the C.L.U.E report will reflect that, and insurance companies use that to establish rates for you, as well as not to deny you coverage.” Silverman explained
Silverman also told WSB the size of the claim you file doesn’t matter.
“There are insurance policies, homeowner’s insurance policies for example, where you can pay a very minimal amount, to have, say, your electronics covered, and you make a claim on that thinking, 'oh this is minor, I’m only getting back a couple a hundred dollars,' but that’s shown, potentially on your C.L.U.E report.” said Silverman.
Howard said another common item on C.L.U.E reports is roadside assistance.
"Insurers who offer the service often times treat it as an at-fault claim and it ends up on your clue report as well,"explained Howard.
One free copy of your C.L.U.E each year is available on LexisNexis.com.