Claims made by previous owners may result in higher home insurance rates

If you are interested in purchasing a home, you will want to know about the Comprehensive Loss Underwriting Exchange insurance database known as (CLUE), which is referenced by insurers to determine risk for a specific home.

Having this information prior to making a purchase is important because: claims filed by previous owners might result higher insurance premiums or denial of insurance.

To avoid surprises, ask for a report before signing a contract.

Claims – whether paid or not – remain in the CLUE database for seven years. When prior claims are evaluated by your insurer, the information contained in the CLUE report may result in higher rates.

And be aware, that just because a claim was filed – and perhaps paid – does not guarantee the repairs were completed. In some cases just knowing that a claim was filed may result in you adjusting your offer – as always…… knowledge has the potential to strengthen your position when negotiating

Current property owners can obtain a CLUE report once per year without charge (call 866.312 8076 toll free).

Read more about CLUE reports at InsuranceQuotes.com