In the past, I have written about the big three credit bureaus… Trans Union, Experian and Equifax. While there are several others, I would like to introduce you to a fourth; ChoicePoint.
ChoicePoint is the company that produces the CLUE reports (Comprehensive Loss Underwriting Exchange) that the insurance companies use to determine your risk, and therefore your rates, for your homeowners and auto insurance.
Much like the credit reporting bureaus, ChoicePoint gets it’s information from the insurance companies. If you file an auto or homeowner’s claim, the nature of the claim and the amount paid is reported to and stored by ChoicePoint. It is then sold to other insurance companies who use the information to determine your rates (and whether or not they will insure you).
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Scott
Your best source for Indiana FHA loans, Indiana USDA Rural Development loans and Indiana 203(k) Streamline loans.
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