Getting a CLUE report is one way to make sure you don ’ t have any last-minute home policy coverage issues when buying a new home .
Imagine you found your dream home. Your accredit score is excellent and you were able to secure a abject rate on your mortgage .
then, days before you ’ re scheduled to close, you find out you can ’ t contract homeowners insurance. You learn your alleged dream home is uninsurable because the previous owner has a drawn-out history of homeowners policy claims .
That return could be avoided if you requested a CLUE report before agreeing to buy the home .
- A CLUE report is a way for insurers to check for insurance claims on autos and property over seven years.
- Insurance companies considers CLUE report and review this information when deciding on whether to give you a homeowners policy.
- You can request for a CLUE report online, via mail, or by directly contacting LexisNexis.
- If you’re buying a home, make sure to check the CLUE report on the property. Review any claims to see what insurance-related work has been done on the property over the past few years.
What is a CLUE report?
Every cookie you eat these days leaves a crumb on the path of your life. In the credit universe, it ’ s your FICO score and citation report. In the policy global, it ’ s the CLUE report .
A CLUE report — Comprehensive Loss Underwriting Exchange — is a compilation of claims on autos and property over seven years. Insurance companies review this information when deciding on whether to give you a homeowners policy and when setting your rates .
How does a CLUE report work?
Owned and operated by LEXIS-NEXIS, CLUE is a manner for insurers to track car, home and renters claims .
It ’ randomness significant to remember that the report, while helpful, international relations and security network ’ metric ton universal joint. While it ’ s a glimpse into a home ’ mho claims history, indemnity companies don ’ t have to provide the data to CLUE. so, a CLUE reputation may not include a dispatch home claims movie .
Homeowners policy companies provide the succeed information for the CLUE report :
- Policy number
- Insurance company’s name
- Date of loss
- Type of loss
- Amount that the homeowners insurance company paid for the loss
Types of claims you may find on CLUEs report :
- Damage to other people’s property
- Dog bite
- Freezing water
- Medical payment
- Water damage
- Workers compensation
How to get a CLUE report
The claims history report — the CLUE Report — is relatively slowly to get. LEXIS-NEXIS accepts requests for CLUE reports online, via email and snail mail or over the phone.
here are ways to request a replicate :
- Online: https://consumer.risk.lexisnexis.com/
- Call: 888-497-0011
- Email: email@example.com
- You could also request a copy from a homeowner
There are a server of security questions that you must answer to confirm your identity .
You can order a report for yourself/your property or person over whom you have legal authority, such as a minor .
Thanks to the Fair And Accurate Credit Transaction Act ( FACTA ), you ’ re entitled to one free copy of your report per class .
When you apply for homeowners indemnity, your insurance party will request a loss history reputation to determine whether you, the buyer or the seller have filed any claims during the by seven years. The database besides includes damage reports that were late closed when the owner made the repairs .
How can I check my home insurance claims history?
If you ’ re buy a home, you may want to ask the seller to pull the CLUE report on the property. You can then review any claims and see what insurance-related work was done on the place in late years. Follow these simpleton steps to get your CLUE reports from LexisNexis :
- Requesting your CLUE report online
- Submitting a request by downloading a form and sending it to them via mail
- Order the report over the phone at 866-312-8076
Loss history reports alert policy companies to properties that potentially carry more risk than they are uncoerced to assume. They besides give consumers another tool to make well buy decisions .
Do home insurance claims follow you?
Yes, most home insurance companies provide information to the CLUE report, so your claims history follows you. Your home ’ randomness claims history besides influences rates — even if the claims were before you owned the family .
Claims going back up to seven years will be on the CLUE report. Keep in mind that while the CLUE reputation won ’ thyroxine contain inquiries to a family policy company, insurers may have their own records .
so, if you called a home indemnity party about a electric potential claim but wound up handling the exit yourself, an insurance company may inactive have that communication on your records .
Buying a house with an open insurance claim
You can buy a home with an open claim. Having an great call shouldn ’ deoxythymidine monophosphate stop you from selling your house, nor should it stop anyone from buying it .
here are two options if you want to buy a family with an open policy claim .
The first choice — and the easiest — is to lower the sell price and sell it “ as is. ” This is a pro for both parties :
- The seller gets out of the hassle of having to have any damage repaired.
- The buyer gets a deal on the property.
In this situation, the house seller would keep the policy claim money because the price was lowered on the house. They would still have to get a reputable professional to give a quotation to reflect the actual cost to fix the issues.
One victimize in that scenario is that the fresh homeowner may appear to be getting a cover, but very they have to put up money out of their own pocket to get the damages fixed .
Another, more complicate, option is to transfer the claim to the new homeowner. In that case, all harass is removed from the seller, which is a bonus for that party. The professional for the fresh homeowner is that they can find their own contractors and feel comfortable with the work .
A bunco in either scenario is that there ’ randomness still an indemnity claims history on the firm that will go on the CLUE report and likely addition base insurance rates temporarily .
Make sure you can insure your home
It pays to educate yourself about home indemnity when you ’ ra seeking low-cost coverage. here are some ways you can help yourself :
- Find out the rules regarding home insurance renewals in your state. Some states exercise control over when an insurer can refuse to renew your policy. In Texas, for example, an insurer can’t refuse to renew your home insurance policy unless you’ve made three non-weather-related claims within the past three years.
- Consider paying for small losses out of your own pocket. Insurers take notice of customers who submit many small claims. If someone breaks into your house and steals your new TV, it might be better to buy a new one at your own expense. That’s especially true if you’ve had a claim or two within the past three years.
- Think twice before you call your agent or insurance company. If you’re considering filing a claim but aren’t sure, wait to make that call. The minute your insurer’s customer service representative logs your call, the insurer opens a file on that issue that it will track through its computer system.
- Shop around for coverage. Don’t get discouraged if your insurer denies a policy based on previous claims or the rates are simply unaffordable. Obtain insurance quotes from at least three other insurers so you can compare premiums and coverage options. Insure.com provides an annual ranking of the Best Home Insurance Companies.
- See if your state has a Fair Access to Insurance Requirements (FAIR) Plan if you can’t get a home insurance policy. FAIR plans were created in the late-1960s to make property insurance more readily available to people who can’t obtain it from private insurers because their property is considered “high risk.”
- Raise your deductible and bundle policies. Consider raising your deductible to lower your premiums. Also, most companies give you a discount if you insure both your car and home with them.
- Check your credit record. In addition to your past claims history, most states allow insurers to use your credit history when deciding on a policy and setting rates.
- Order a copy of your credit record periodically. This will ensure it doesn’t contain mistakes that could prevent you from obtaining a home insurance policy or lead to higher premiums. See how your credit history affects your auto and home insurance premiums.
How can I find insurance claims on a property?
To find insurance claims on a property, you can ask the insurance company to provide a copy of their records. You can request a CLUE composition ( comprehensive Loss Underwriting Exchange ), which consists of details related to damages, previous property claims, and repairs .
Do home insurance companies share claims history?
Yes, insurance companies share any information related to insurance claims on your CLUE report. Insurers use this data to assess the risk when person applies for an insurance policy. The database is across-the-board, containing information about all the claims you ’ ve made in the past seven years and claims that were filed on the property even before you lived there .
Can insurance companies see previous claims?
Yes. Insurance companies can see previous claims on a property using the CLUE report. Insurers consider claims history in their cover process, and if there was a claim on the property in the past, it could lead to a higher premium offer from an insurance company .
Can you look up insurance claims on a house?
Only homeowners and insurance carriers are allowed to request an official CLUE report. You can ask the property seller for a copy of the CLUE composition to learn about the property ’ second claims history. LexisNexis is a inquiry company that maintains the CLUE database and most home indemnity companies contribute to it .
How much does a CLUE report cost?
The Fair and Accurate Credit Transactions Act allows consumers to get a free copy of the CLUE report every year upon request. And if you need a CLUE report on a property you are planning to buy, you ’ ll have to ask the owner to request it .
Frequently asked questions about clue report
Are insurance claims public record?
Yes, policy claims are public record, but entirely to certain parties .
The policy company and the policyholder can request and receive copies of claims. The other party that can request a claim is the realtor/prospective buyer for a property. unrelated parties — those other than the insurance company, homeowner, realtor/prospective buyer — aren ’ deoxythymidine monophosphate toilet to these documents .
How is a CLUE report generated?
Homeowners and insurers are the alone ones who can request a CLUE report. But you might be able to get your hands on one from the home plate seller to know more about the place ’ second claim history .
How do CLUE reports affect your homeowners insurance?
A CLUE Report can either positively or negatively impact your homeowners insurance. LexisNexis stores this information for review and the policy ship’s company will check your history with LexisNexis to get a better theme of how goodly your home is. Each insurance company follows their own methodology which determines how different outcomes may be used in determining your policy bounty .
How long do claims stay on a CLUE report?
Claims stay on a CLUE report for a period of 5-7 years from the date filed .
Can I view my CLUE report online?
Yes, you can view your CLUE report on-line, but you will need a letter from LexisNexis before you can access the information .
How to get a clue report online?
You can request for a free copy of your CLUE report online by visiting the official website of LexisNexis or by contacting at 866-312-8076.
How to find insurance claims on a property?
You can find out about the insurance claims on a property by using the CLUE report or seller ’ second disclosure reports, that holds all the information of any former claims that have been filed over the last five years .
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Susan Manning contributed to this story.