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This fee will be waived if you're ordering a report because an insurer took an adverse action against you because of A-PLUS data. The report also tells you how to dispute any errors you find. That makes it tough to decide just how much value checking your CLUE yields. Still, taking less than an hour once a year to order and review your report could pay off, especially if you find an error. Skip to content. Top Spotlight. Your CLUE report will have: Your name, home address, birth date, and Social Security number; The number assigned to the report; The name of your insurance company; The type and number of the insurance policy; The type of loss—fire, water, etc.
The order page lets you view a sample report. Information from the CLUE database plus your risk score make up the complete insurance risk profile. However, your credit history can play an important part in an insurance company's judgment about your risk potential. CLUE reports are a way for insurers to share information about your record of filing insurance claims. Insurance companies are by nature in the business of assuming risk. The more that a company pays in property claims, the less it profits.
CLUE reports are one of the ways an insurer assesses how much of a risk it is assuming by selling you an insurance policy. Because CLUE is generally unknown to the public, consumers have little opportunity to prepare for an insurance review. Inaccurate or incomplete data included in a report is likely to surface only after you have been turned down for insurance or premiums for new insurance skyrocket. At this point, you, the consumer, assume the burden of proving the data wrong.
The federal Gramm-Leach-Bliley Act GLB requires financial institutions, including insurance companies, to send you a privacy notice about how they collect information about you and how the company shares your data inside and outside the company's corporate structure. Since the insurance industry is regulated by the states, the content of an insurer's privacy notice is mandated by your state's insurance commissioner.
The National Association of Insurance Commissioners provides contact information for your state's insurance commissioner. In California , any insurer who issues an insurance policy that covers residential property, which reports claims history or loss experience to a database such as CLUE must provide the insured with a disclosure.
CA Insurance Code Section When it comes to your CLUE report, you have the same rights as you have for your credit report. You have the right to access your report and to dispute inaccurate or incomplete information. You are also entitled to notice about an adverse decision based on information in the report. The California law goes beyond the FCRA in protecting consumers who are the subject of employment reports. However, for insurance customers, the protections only apply if the report is based on personal interviews.
This is a shortcoming of the California law. A dispute is a formal process outlined in the FCRA. The law requires a consumer reporting agency to investigate your claims of inaccurate information included in a consumer report.
Here's an example of how the dispute process works:.
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