Insurance Term of the Day: CLUE Report

If you’ve never heard of a CLUE report, it may sound a little mysterious. But you don’t have to be a detective to figure out what a CLUE report is, and how it can benefit you.

The name CLUE is an acronym, but its purpose is to give you a “clue” into the history of a home or car.  CLUE stands for Comprehensive Loss Underwriting Exchange. In summary, it is a report of your claims history for the last five to seven years. There is a report for auto insurance claims, and also one for home insurance claims.

A CLUE report includes the following information:

Your basic information:

  • Your name
  • Date of birth
  • Policy number

 

Information regarding the reported claims:

  • Policy number
  • Date of loss
  • Type of loss – plus a detailed description of the property loss
  • Amount the insurance company paid out
  • Possible claims are documented

 

After pulling a report, keep in mind that it is possible for a report to be completely blank. This happens when there have been no claims filed on the property for the last seven years, or if the insurance company insuring the home does not participate in the CLUE report program.

Most insurance companies keep a thorough history of claims information. This data helps them to determine risk. However, a CLUE report can benefit you, as well.

While purchasing your home insurance, usually the CLUE report will be available to you. It is a requirement for underwriting to pull the report while quoting your insurance. The report will show you any losses on the property–what type of loss, the date of loss, and how much the insurance company paid out on it. After reading the report, you will know how recent the loss was, and how severe it was by the cost. From weather-related losses, to thefts, or non-weather related water damage, there’s no guessing what condition the home is in. With a history of theft, you may not want to purchase the home, which could save you from a bad investment in the long run.

Next time you’re buying home insurance, try asking your insurance agent if you can get a copy of your CLUE report. You may also be able to pull your CLUE report by calling LexisNexis services at 1-866-312-8076.  You’ll be happy you did.

By: KayLynn P.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about
our blog writer?

Read more about KayLynn's background.

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Setting a Life Insurance Goal

You May Have Goals For Savings and Investments. What About Life Insurance?

Should You Have Life Insurance? HINT: Ask Your Spouse

Odds Are Your Spouse Would Want You to Have More Life Insurance Coverage

Is Life Insurance a Part of Your Financial Plan?

Why Life Insurance Should be a Part of Your Family’s Future

The Power of Color

How Color Affects Your Attitude and Emotions

Addressing Some of the Most Uncomfortable Topics in Life Insurances

The Answers to Some Tough Life Insurance Questions

Improving Your Life by Improving Your Sleep: All About Mattresses

The Foundation to a Better Night’s Rest

Why It’s Important to Review Your Life Insurance

Once You Buy Life Insurance, It May Not Be a Good Idea to Ignore It

Can Healthcare Be Interesting?

Some Stats Can Help Us Understand Healthcare Just a Bit Better

Life’s Challenges and Rewards

The Hills and Valleys Are Just a Part of It

How Many People…

Odd and Interesting Facts About All of Us