What is a CLUE Report and How Does it Affect My
Great Bend Homeowners Insurance?
One common question I get asked by Great Bend Homeowners is, “How is my homeowners
insurance rate calculated?”
There are many factors but one you may not be aware of is a CLUE report.
What is a CLUE Report?
CLUE is an acronym that stands for Comprehensive Loss Underwriting Exchange. The
information for the report is stored in a central database operated by a company called Lexis
Nexis. This report tells us and the carrier how many losses you have had in the past as well as
losses on your current or new home. Typically, the CLUE report looks back 5 years. For more infomation on the CLUE report click here.
The data is collected from reports submitted by insurance carriers. The carriers then use this
information to make a decision about your risk profile and the risks related to the home.
Independent insurance agents use this information to help us find a tailored insurance product
that protects you and the best carrier to fit your needs.
It doesn’t matter if you are insuring your present home or a new address. Every claim you’ve
made at your current and previous addresses are taken into consideration in the CLUE report.
Some claims can impact your rates. Also, if the property you are wanting to purchase has had
claims and/or incomplete repairs, the rates can be impacted.
How Do You Overcome This Potential Obstacle?
Just like the Realtor says “Location, Location, Location”, Independent Insurance Professionals
preach “Research, Research, Research.” Consult with your local independent insurance agent to look at
the house and run reports. This will help you make a good home buying decision as well as help
you ask the seller the right questions.
We want your new home purchase to be a pleasant experience with no surprises. You can trust
in us as professional insurance consultants - not just insurance salespeople.