Why Your CLUE Report Is Important

December 16, 2006 By Jonathan Ping 5 Comments
My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone.

Follow-up: Not being a homeowner, I may not have adequately expressed the importance of knowing what’s on your free CLUE report. For a better explanation, see this MSN article titled “Insurers keep a secret history of your home“. If they decide your house is high-risk, even if you don’t file a claim, finding homeowners insurance may become next to impossible. This is also something to be wary of when buying a house. Link via Consumerist.

Don’t tell your insurer about problems unless you’re sure you’ll file a claim. This last piece of advice is unfortunate, because insurers and insurance agents can be a decent source of counsel on whether it’s worth filing a claim. Since any damage you report could get passed on to the CLUE database, however, it’s smart now to err on the side of caution.

Filed Under: Insurance
Last updated: August 19, 2012
My Money Blog has partnered with CardRatings and may receive a commission from card issuers. Some or all of the card offers that appear on this site are from advertisers and may impact how and where card products appear on the site. MyMoneyBlog.com does not include all card companies or all available card offers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

User Generated Content Disclosure: Comments and/or responses are not provided or commissioned by any advertiser. Comments and/or responses have not been reviewed, approved or otherwise endorsed by any advertiser. It is not any advertiser's responsibility to ensure all posts and/or questions are answered.

Comments

  1. Nagel says
    December 17, 2006 at 6:25 am

    As a new homeowner this information is important to know. Thanks.

    Reply
  2. Terry says
    December 25, 2006 at 10:59 pm

    It’s getting expensive to be a poor American!

    Reply
  3. Terry says
    December 25, 2006 at 11:02 pm

    To what extent are home sales being thwarted – like where a buyer can’t get homeowners insurance and therefore cannot close?

    Reply
  4. ProspectZone Mortgage says
    May 9, 2007 at 9:06 am

    Information is power, right? Getting a loan can be easier if you talk to multiple loan officers who deal with multiple lenders. if you talk to, for instance, three LOs, and each of them deal with 3 lenders, you’ve got 9 options available to you. Even if most of them won’t help you, one might pan out.

    Reply
  5. Bob says
    March 27, 2008 at 1:15 pm

    This is true, make sure to have an insurance agent run a clue report Before you close on the home. Previous claims may show up on the home, and those claims could have been claimed by previous owners or others against the owner, this may affect your premium and/or coverage. If there have been claims on the home, you will want to inspect, and I would also speak with the same agent to run a quote for and make sure they are able to bind the quote for the policy on the home, before you close.

    Reply

Speak Your Mind

*