One of the tools you can use  in your home buying decision is the C.L.U.E. report.

What is a C.L.U.E. Report?

C.L.U.E. stands for the Comprehensive Loss Underwriting Exchange, which is used by the insurance industry. Think of it as a credit report for insurance claims against a  house. Just like your credit report follows you around, a home’s C.L.U.E. report stays with it for the duration of existence, even as it changes ownership. (Individual consumers also have an “insurance score” but let’s focus on the house for now.)

C.L.U.E. data is used by insurance companies to determine the risk of providing insurance coverage to a particular home. Before providing a homeower’s policy, the insurance company looks at the reported loss history of the home, as well as the credit history of the insurance applicant. This combined information is used to determine if coverage will be granted, and for what price.

How Can C.L.U.E Help When Buying a Columbus Home?

Asking for the C.L.U.E.® Home Seller’s Disclosure Report can help you in several ways! First, if you end up buying the home, you will be paying homeowner’s insurance premiums on it in the future. A clean C.L.U.E. report gives you some assurance that your premium costs won’t be on the moon. (Subject to your own risk profile, the home’s location and structure, and whether or not you own a pit bull.)

However, this type of C.L.U.E. report will only go back 5 years. If there is any loss history during that period, the report will list the date of loss, loss type, claim status, amount paid, policy type and insurance company name. Learning this history can be an eye-opener.

At this time, only the property owners, or their authorized insurance agent, can request the C.L.U.E. report on a home. You can ask for it as part of your purchase contingencies!

Get Expert Home Buying Guidance for Columbus!

If you are wondering how risky you might look to an insurance company, you can order a copy of the C.L.U.E. on you! Similar to a credit report, you can get a copy of your insurance report once a year. Visit www.personalreports.lexisnexis.com or call 1-866-312-8102 for more information.

We hope this information helps you with your home ownership goals! As your Exclusive Buyer’s Brokerage, we focus on helping Columbus home buyers! Let us provide you with the expert guidance you need for home buying success. Please download our free e-book for immediate access to home buying strategies!

We welcome you to contact us with your home buying questions!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

www.BuyersHome.com
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