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CLUE Report for a Property

yogibearbullyogibearbull
edited July 17 in Other Investing
CLUE (Comprehensive Loss Underwriting Exchange) Report has 7-yr history of insurance claims for properties - homes, cars, etc. They are generated by the analytics firm LexisNexis Insurance (parent RELX). The insurance professionals & underwriters rely on these reports. Property owners can request one free CLUE Report annually online or by phone or mail by providing detailed personal information - full name, date of birth, address, city, state & zip code, Social Security number & driver’s license number.
https://www.cnbc.com/select/what-is-clue-report/
https://www.investopedia.com/terms/c/clue-report.asp

Comments

  • beebee
    @yogibullbear

    Thanks.
    All this time I was under the impression the insurance industry was CLUE - less.
  • catch22catch22
    Thank you for your time and efforts with this.
  • larryB
    Former P and C agent long ago. At least back in the day underwriters used CLUE to evaluate risk. Main take away is not to lie or otherwise not answer questions on application because the truth is out there.
  • MarkMark
    Help. Point & Click? I don't know what a P&C agent is or does.
  • Old_JoeOld_Joe
    edited July 17
    1) I don't know what a P&C agent is...
          DuckDuckGo says "Property and Casualty", as in "Insurance".

    2) or does...
          Aids and abets insurance companies in ripping off consumers.

    (larryB seems to have reformed.)    :)
  • hank
    Thanks. They gotch ya coming and going. I try not to file claims.
  • Old_JoeOld_Joe
    Same here.
  • yogibearbullyogibearbull
    edited July 18
    When the amount of claim is not much above the policy deduction, it's pointless to file the claim.

    BUT don't call the insurer to ask whether to file a claim. A friend did just that and was told that would be recorded as an insurance "incident" whether the claim was actually filed. His rates went up on renewal even when he didn't follow through with the claim.

    Bottom line - Don't call your insurer for chit-chats. Anything you say may be used against you. But do call if you have complaints about rate increases or questions about policy renewables. Plan insurance replacement in advance because many insurers will give you firm quotes only within 30 days from policy replacement.

    If you do change policy, be sure to call to cancel the old policy after you have new policy issued. Don't assume that old policy will lapse by itself. In fact, there are policy provisions on lapses, reinstatements, grace periods, and if both policies are considered valid, you will caught in the hell between 2 insurers.
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