A little detective work can reveal a lot about a property's history, and could save you from unexpected surprises later. Before you buy your dream home (or even a rental property), order a loss history report. The five years of claims history the report offers can give you a better perspective on your biggest financial investment.

It's Called CLUE, But It's No Mystery

Most insurance companies, including Safeco, use the Comprehensive Loss Underwriting Exchange (CLUE) to see if a home has had significant losses in the past five years. The information helps consumers decide whether to insure a house, and if so, for how much. CLUE reports are available online. Buyers and sellers can request a copy as they begin the home-buying process.  Of course, your Kelly Insurance Agency professional can help you attain one as well -- at no charge to our existing customers!

The Internet Accelerates Information Sharing

Before CLUE, insurance companies would call the home's previous insurer, or insurers, to find out if damage was repaired. Internet technology made this information sharing much faster and more convenient for everyone. Now, a CLUE report is readily available to insurers and consumers, and accelerates the insurance application process.

The Earlier You Find Out About Risks, the Better

If you're buying a house, it's a good idea to request the CLUE report at the same time you make your initial offer. That way, if there has been serious damage or repair to the house, you can let your home inspector know what to look for. CLUE reports also help home sellers. Reviewing the report before listing a house allows a seller to be completely honest or make sure repairs have fixed the original problem.

Calls Are Tracked, But Rarely a Factor

In some states, CLUE reports may include calls homeowners have made about potential claims, even if no payment occurred. At Kelly Insurance, these "claims without payment" are rarely a factor in the acceptance or pricing of new policies.

This information is compliments of http://www.safeco.com.