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Do NOT File a Home Insurance Claim

By Stephen Bucaro

You can PAY for home insurance, but don't try to actually
USE your home insurance or you may be blacklisted by the
insurance companies. The home insurance companies only
want to TAKE in money, not PAY OUT any money. On Jan. 2,
2003 CBS Evening News exposed a scheme by home insurance
companies to blacklist customers who file claims.

According to the CBS Evening News report, the insurance
industry uses a secret system called CLUE (Comprehensive
Loss Underwriting Exchange) to blacklist customers who
actually try to use their insurance. The system was
originally set up to help companies detect fraud, But now
it's being used in a scheme to blacklist customers who use
their home insurance.

Several home insurance companies say they are blacklisting
customers who file claims because "claim losses outweigh
premiums". But consumer advocates say a look at the
companies financial records shows they are in financial
trouble because of big Enron and Worldcom stock market
losses.

According to the CBS Evening News report, if you try to
make a claim on your home insurance, you could be placed
on the Insurance Industry Blacklist for five years. During
that period you will either be forced to pay outrageous
premiums, or you will be without insurance. If you try to
sell your house, you will find it is unsellable, because
it is uninsurable.

Your best option is to continue to pay your home insurance
premiums, but if something happens, like a pipe breaks or
a storm damages your home, pay to fix it yourself. Do NOT
make any claims against your homeowner insurance policy or
you may be blacklisted by the insurance industry. The home
insurance companies only want to TAKE your money, not PAY
OUT any money.
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