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No secrets: What insurers know about you and how they use your personal data from InsuranceQuotes.com
05 July 2015

No secrets: What insurers know about you and how they use your personal data from InsuranceQuotes.com

Before they decide how much you have to pay for your auto insurance, carriers probe deep into your background to determine how likely you are to file claims.

Most consumers would be surprised to learn how much personal information is available to insurers, says Amy Bach, executive director of the United Policyholders insurance consumer advocacy group.

The rule of thumb is this: If there's anything in your background that could increase your risk of filing a claim, you can expect it to be factored in when rates are set.

What private data do insurers track?

Insurance companies consider these major factors:

  • How well you handle your personal finances.
  • Where you live.
  • Your driving record.
  • Your claims history. 

Having access to information about you enables insurers to charge rates that accurately reflect the risk you represent, says Karl Newman, president of the Seattle-based NW Insurance Council trade group.   

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