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All insurance products are governed by the terms in the applicable insurance policy, and all related decisions such as approval for coverage, premiums, commissions and fees and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Insurance companies use your claims history as a rating factor to help determine how much you will pay for auto and home insurance.
A Comprehensive Loss Underwriting Exchange CLUE report discloses any insurance claims made by a policyholder in recent years on your potential home or vehicle. For example, a CLUE report will show if a policyholder filed a claim for damage after a storm or fire, or if the car was involved in an accident.
CLUE reports compile insurance history about a location or vehicle. The report will contain details about any insurance claims made over the past years, no matter how small. There are two types of CLUE reports: one for home insurance claims and one for auto insurance claims.
Requesting a CLUE report before buying a home can help you know what to expect when applying for homeowners insurance. While the claims of prior owners should not affect your premium, knowing what claims were previously filed on the home can help you, as a potential buyer, determine if there might be hidden damage that needs to be addressed before closing on the purchase. CLUE reports can be beneficial to buyers in helping to ensure that a particular home is the right choice.
Claims with large payouts or repeated claims can be a red flag for prospective buyers, indicating that the property is prone to damage. However, CLUE reports can also provide positive news. If a claim payout funded new roofing or windows following a natural disaster, the prospective buyer may be reassured that those areas of the home are in good condition for years to come.
Most home insurance companies contribute claims history information to the CLUE database , which is maintained by research company LexisNexis. When a homeowner files an insurance claim for incidents such as water damage, fire damage or criminal activity on the property, for example, most insurance company reports are entered into the CLUE database. Your insurance company uses the information from the CLUE report as guidance in setting rates for insuring your new home.
While claims filed by prior owners of a home should not affect your insurance premium, claims that you have filed on your prior homes might. This is because, in the eyes of an insurance carrier, if you have filed a claim in the past, you are more likely to do so again in the future.
Whether it is pulled by an insurer as part of the underwriting process or you request your own CLUE report from the property owner, it should include the following for all home and auto claims the individual has filed:. The report will not include specifics, such as what part of the house was damaged — but if you are buying a house, it will give you enough information to ask the homeowner to explain the details. CLUE reports also typically include the property address as well as some information pertaining to the policyholder, including their name and policy number.
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This compensation comes from two main sources. First , we provide paid placements to advertisers to present their offers. An insurer may request a CLUE report when you apply for coverage or request a quote. The company uses your claims history, or the history of claims at a specific property, to decide if it'll offer you coverage and how much you'll pay. Insurance company studies show a relationship between past claims and claims you report in the future.
To request a copy, contact:.
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