Do You Have A Clue?
I didn't have a CLUE and you might not either… I am referring to a national insurance claim data bank known as
Comprehensive Loss Underwriting Exchange (CLUE )
that contains insurance claim and payment information.
Until I read about it somewhere recently I didn’t know it existed, but it could very well have impacted me without my realizing it. CLUE keeps insurance claim and payment information on auto and personal property policies, the way they state it.
What is not clear on the surface is that to them “personal property” includes your home or other real estate, claims such as what has been filed against your homeowner’s or renter’s policy. That’s contrary to the more generally recognized distinction between personal property being commonly considered things that are movable, as opposed to real property or real estate.
There’s just one wrinkle that COULD cost you money unfairly: the data is tied to the property, so… if you buy a home or car that has had past claims paid against them, you could be charged more or denied for something YOU didn’t do and are not responsible for! And even if you are not buying a used car or existing home right now, you may already have been affected on past purchases.
OK, so what can you do about it? Well, now that you know about it, you can ask your insurance agent. In addition, you are entitled to a free report on what is in the system, just like getting your credit report (same law).
I you are interested in additional details on CLUE or on ways to reduce your insurance costs, I have more info on my web site. CLICK HERE.
JIM AT THE TOPJim Pedicord RE / MAX Top Realty
713-773-3700 x 2537 Office
2911 S. Sam Houston Pkwy. E. Houston, TX 77047