C.L.U.E. Report Basics
You come home from work, open the mail and find a
letter from your insurance agent stating that your homeowners
insurance policy will be cancelled. Knowing the mortgage company
will demand continued insurance, you begin calling other insurance
companies only to be quoted unaffordable rates or be told they will
not cover the property. If this scenario sounds all too familiar
then you may have joined the millions of Americans who have a
negative CLUE Report.
CLUE, which stands for
Comprehensive Loss Underwriting Exchange, is a database used by
insurance companies to exchange information about the history of
your home including claims, injuries, losses and other pertinent
information. The CLUE report remains with the house
itself rather than the owner of the home and can
provide valuable information about the status of the property and
future likelihood of claims.
If you need
homeowners insurance help, it is a good idea to begin early.
Shopping for insurance can be time consuming and it is important to
make sure you do not have a lapse in coverage. Use these quick tips
to replace your homeowners insurance:
- Comparison Shop. Begin by putting
together a property information sheet about your home. Include the
size, age, type of construction, amenities, location, distance to
fire hydrant, security precautions etc... Once armed with all of the
information, call insurance agents and ask "Will you insure
my home" with these criteria?
- Obtain a
copy of the CLUE Report for your home. Consumers can request a copy
of the CLUE report for their home by contacting www.ChoiceTrust.com.
It is a good idea to review the information contained in the CLUE
report at least annually to assure it is accurate. Be sure to put
any disputed information in writing and follow-up until it is
- It is also a good idea to obtain a
copy of your Personal Insurance Score. This is similar to a credit
score and in fact, your personal credit history can also impact your
homeowners insurance rates. You can obtain a copy of your Personal
Insurance Score from Choice Trust when requesting a copy of your
CLUE report. Again, take time to verify the accuracy of the
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