This episode is for those who are buying a home.  Purchasing a house is a lot of work and there are a mountain of hoops to jump through and tons forms to fill out.  One of the most important forms is the property disclosure form.

A question on that form, is “Have you filed any claims on this house?”.  Most people are honest, and will fill this part out properly.  Some people may flat out forget about the little claim they filed 2 1/2 years ago.  Some may not say yes because a claim was filed but not covered.  Others may flat out lie.

As a homebuyer, you want to know if there has been any claims filed on the house you are considering.  Such a report does exist.  It’s called a CLUE report.  When you get a quote from an insurance company on a house you are considering buying, this report gets pulled and becomes a formal part of the quoting process.  Think of is as a Carfax for the house.

A CLUE report brings in any claims that YOU filed on your current house AND and claims filed on the property that you are purchasing.  It paints a picture of your history and the house’s history to best price the policy.

I recommend getting a quote on the house you are considering and asking the insurance agent to tell you if there are any claims tied to this property . If you are selling a home, it’s not a bad idea to call up your insurance agent and ask if you have filed any claims on your house so that you can disclose them properly.

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Music by Roger Clyne and the Peacemakers

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