CLUE is short for Comprehensive Loss Underwriting Exchange, and is the name used for a database of insurance claims made by consumers. The database is maintained by a company called ChoicePoint, and is used by insurance companies to help them calculate the risk assessment of a policy being written.
Your CLUE report contains such information as your name and date of birth, and the policy number of any insurance policies associated with you. Car insurance information includes the make and model of the vehicle. For home insurance, the report contains the physical address of the home. The details of the report include claims numbers, date and amount of the claim, and how much was paid or how the claim was settled.
Individuals cannot access CLUE reports on someone else’s property, because the property is protected under the Fair Credit Reporting Act. Only the owner or lender can access a property’s CLUE report, along with insurance underwriting companies. So you can get a copy of the CLUE report on your own home, but not on the house next door. If you are considering buying a home, you can request a CLUE report from the home owner prior to making the purchase.
If you find information in the CLUE report that requires some form of explanation, you have the right, as the property owner, to submit a written statement that will be appended to the CLUE report. When this is done, your statement will be distributed along with the CLUE report for the property. CLUE reports track the most recent 5 years of property claim history, but no more.
What makes the CLUE report important to you is that insurance companies can use the claims information regarding a home to calculate the risk assessment of the home for your insurance. That means that you could pay higher insurance rates based on the home insurance claims filed by the previous homeowner. It also means that the insurance company can decide whether or not to insure the home based on the information found in the CLUE report.