What You Need to Know About CLUE Reports

What is a CLUE report? Today I’m joined by insurance expert Chris Monaghan to answer that question and more. CLUE stands for Comprehensive Loss Underwriting Exchange, and this report is a valuable resource used in the insurance industry to assess homeowners insurance risk. It shows the lost history of a property and the associated owner. To find out more, watch my latest video.
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Here’s a nice comedy act. Party A has a contract on a property but has no information of the seller to obtain a CLUE report. Party A talks to her insurance broker for future home insurance and he says can’t get you a CLUE report because there’s no claims. Broker tells Party A or buyer of property you go to Lexis Nexis request report yourself. Mother of Party A gets on phone tells Broker you run your business under umbrella of major insurance company right? Then call your legal department and tell them run report and get the CLUE report otherwise you don’t need our business, and if there are no claims then produce that report. Broker almost chokes on the phone mumbling and stumbling that he will make some telephone calls. Right that should have been done week ago. End of conversation.