Are you considering buying or selling a home in Central PA?  If you are, then you should know about Comprehensive Loss Underwriting Exchange (CLUE) Reports.  This report—along with your insurance score—is what insurers use to determine how much of a risk you and your home are to insure.  Each claim you make—and sometimes even inquires you make regarding your coverage—are included on your report.

The report shows a five year history of any claims you have made including the date of the claim, type of loss claimed, and amount paid by the insurance company.  Insurers use this information because they believe that a person’s history in filing claims will be a good indicator of whether or not they’ll file again in the future. 

If you are a homeowner who wants to access your CLUE report, you have the same rights as you do for accessing your credit score.  You are entitled to a free report every 12 months, you have the right to dispute inaccurate or incomplete data, and you are entitled to a notice when an adverse decision is reached regarding your insurability.   

If you are a buyer who is curious about the claim history on a specific property, you can have your Realtor ask the seller to provide a CLUE report, which will detail any claims made on that property within the previous five years.  This will give you a general idea about what types of issues the home has had, and it will help you make a better informed decision.

If you would like more information on how to get a free copy of your report, contact the consumer reporting agency, ChoicePoint at (866) 312-8076.  You can visit their website at www.choicepoint.com/factact.html.

Please contact Coldwell Banker Select Professionals if your looking for personal service and have questions regarding buying a home in Lancaster PA, York PA, Harrisburg PA, Lebanon PA, Hershey PA and Cumberland County.  Be sure to connect with one of our agents at www.cbselectpros.com.  We have local offices serving all of Lancaster, Lebanon, York, Hershey, Harrisburg, and Cumberland County PA.  Get started on your search today!