AmiableDave

I just found this out something by an insurance agent. Something that I was unaware of while shopping for auto insurance. Not only does this affect Auto insurance premiums. It affects all insurance premiums. Even though I have Progressive Insurance. Most insurance companies do the exact same thing as stated below… .

I've had progressive insurance since 2003. I have a higher than average insurance policy coverage. But every year, I shop around for cheaper insurance and Progressive always wins out. My Formula Fastech was 3 years old when I bought it with just over 20 hours. To make a long story short I purchased there, “Propulsion Plus” that covers repairs of the engines and outdrives. In 2019 I put a claim in for the port outdrive which was DENIED by progressive. I PAID OUT OF POCKET FOR THE REPAIRS. I then dropped “Propulsion Plus”. In 2022 while docked at Caladesi Island, another boat hit mine. It scraped the paint down to the fiberglass. I did what insurance companies tell you to do. Notify authorities and notify the insurance company. The boater paid all damages out of pocket. I notified progressive that the damage has been taken care of. ONCE AGAIN PROGRESSIVE WAS NOT OUT OF POCKET.

NOW WE COME TO THE PRESENT DAY. I'm looking for auto insurance because my present insurer just raised my premium $500. No tickets, no claims, safe driving record. I asked every agent why the premiums are so high. I keep on hearing from them, "Insurance Fraud." EXCEPT FOR ONE AGENT. He said, "I HAVE TWO CLAIMS ON MY RECORD THAT'S RAISING MY PREMIUMS." I said what claims? No one's ever paid out anything. HE SAID IT DOESN'T MATTER IF AN INSURANCE COMPANY PAYS OUT OR NOT. IF A CLAIM HAS BEEN STARTED IT AUTOMATICALLY GOES TO A “CLUE REPORT” database.

CLUE (Comprehensive Loss Underwriting Exchange) is it database that most insurers go to to see if you're a risk or not and then tacks on your risk to your already high premium. Even though progressive never paid out a dime. Just because I made a claim. It was entered into CLUE. SO FOR FIVE YEARS I POTENTIALLY WAS PAYING MORE FOR INSURANCE. BOTH BOAT, AUTO AND HOME.
I have called progressive and put in a dispute to have those two claims with CLUE removed. I RECEIVED AN EMAIL FROM PROGRESSIVE CLAIMS DEPARTMENT STATING THAT NO MONIES WAS EVER PAID OUT. AND THAT THEY ELECTRONICALLY PUT IN A DISPUTE TO HAVE THE CLAIMS REMOVED FROM CLUE. But CLUE has nothing to do with progressive. It's just a database that holds claims for 7 years. ONLY the insurance companies can correspond with CLUE.

Meanwhile my auto insurance comes due the middle of this month. There's no telling how much more money I'm paying because of these entries. And the insurance companies don't tell you.

liberator221

Seems like no mater what happens, your fault my fault nobody’s fault high cost low cost no cost it makes your rate go up. Its mind boggling the data and statistics they gather and compile figuring out how to leverage it against you.

AmiableDave

It's all according what end of the pencil they're using.

bajaman

Yep, it's all about the level of "risk" they think you have. My ex brother in law had to file Chapter 13 bankruptcy, and this made him 'uninsurable' to the Big Three in this area. He ended up going to another 'tier' of insurance companies and paid premiums nearly twice what he had been paying before his bankruptcy. His previous agent, who represented the company he'd been with for over 20 years, told him it "was regrettable" but "people who declare bankruptcy tend to file more claims".
It amazes me there are people who willingly put the little snooper devices on their cars to tattle on them when they accelerate or brake too hard or travel over the speed limit or do any one of a dozen other "tracked and recorded" events the insurers take a keen interest in.

Wildman_grafix

I found that out years ago on a hail damage claim that was denied.

Insurance now sucks so bad if you put a claim in, they make sure they get whatever they paid out back within a couple years.

It’s a scam, the only pay outs that come out ahead are the people who do law suits against you.

anger mgmt

It seems that insurance companies are one of the few that never go in the red. I had my vehicles with geico for five years and the rate had doubled since I started with them. Zero claims, zero accidents or tickets. Just dropped them and got a rate over 30% less.

Jupiter Sunsation

If you don't shop around the small increases every 6-12 months add up quick after a few years!

Also keep in mind during Covid some insurance companies were rebating/discounting premiums since people were staying home/not driving to work etc. Well that ended and what looks like a huge increase was really just charging full price again AND a small increase.

Jupiter Sunsation

Some Corvette owners found out that OnStar was reporting their driving habits (which included time on racetracks) to insurance companies. So while it was completely legal driving (on the track) it looked crazy reckless on the streets.

Jupiter Sunsation

Florida homeowners ins.is tough to get if you have an older home with an older roof. Companies were sending out "reps" that were pitching "Free Roof Replacements" and they would put the claim into your insurance company then when the insurance company denies the claim then they would sue which really spiked the cost. I had 2 neighbors get "free roofs" yet it turned out to be like a 75K+++ claim (actual roof was 30K, lawyers/fees were 45K+++). Now they show up as having 75K claims on their homes.
Of course the "roofers" were from out of state, good luck ever getting any type of future warranty when they were coming from Oregon! Lawyers picked low bid roofers to get the actual roofing done.

Florida has passed some type of legislation to make this "solicit to sue" practices less lucrative.