What Do UK Car Insurers Know About Us?

All of us have filled in a car insurance proposal form at one time or another. While we are certainly truthful about the majority of the information that we must enter, does that minor accident five years ago really need to be mentioned? After all, it was settled quickly and your past premiums only went up slightly. Or, perhaps you have recently dug yourself out of a rather deep financial hole and your credit is finally getting back on track. The past is the past and surely the company will not delve so deeply into what you consider to be ancient history. However, you suddenly find yourself surprised when you are either turned down for a policy or are refused compensation after an accident. What do these insurers actually know and perhaps more importantly, just how much information can they discover about your past? The answers may indeed surprise you.

The Role of the 'Private Eye'

Although you may not realise it, the private eye has a substantial place in the world of car insurance. While he or she may not be utilised when you initially file for a claim, they can play an important role if the company suspects that you may have lied about a significant portion of your information. Such an instance is also highly likely if you request a payout after a rather dubious accident. Furthermore, you should appreciate that these investigators can discover a great many things about your current situation. Not only can they uncover an extensive driving history, but they will often times even monitor your whereabouts to make certain that you have not exaggerated the extent of an injury. The bottom line here is simple: big brother may indeed be watching!

The C.L.U.E. Report

This rather unknown report has been the mainstay of car insurance firms for a number of years. The abbreviation CLUE is actually an acronym for Comprehensive Loss Underwriting Exchange. To put it another way, these reports will include your motor vehicle record, a detailed history of your vehicle and even your credit details. So, it is clear to see why companies will make use of these reports of time to time. This is particularly the case for drivers who have a less-then-perfect past record. This report can span as many as seven years of your past history and amongst other things, it will contain a record of every single claim that you may have filed during this time period. So, that seemingly "insignificant" accident that you failed to mention may not be as trivial as you may have thought! Thankfully, you are also to obtain a copy of this report for your own knowledge.

Motor Vehicle History

This aspect is important to realise if you have recently purchased a used car. Also, never forget that even reputable dealerships may not have been privy to the vehicle's past history. It is nonetheless a safe bet that the insurer will look into this. So, it is a good idea to obtain a copy of this history before applying for a policy. This will allow you to see how many (if any) accidents the vehicle has been involved in and the claims that were filed. Insurers will obviously take this information into account before deciding whether or not to approve a policy.

Of course, a policy provider will frequently use these three areas in conjunction and many companies have streamlined their methods to obtain all such records using the power of the Internet. So, it is a good idea to be open and honest when applying for any insurance policy. This can save you time, money and potentially a great deal of aggravation! 

 

Copyright Maureen Davey 2014 All Rights Reserved