When you buy a home you will want to know if that house has had any losses or claims reported by insurance companies.  You don’t want to own a house that has inherent problems or losses that haven’t been fixed.  Losses on a home that you buy could affect qualifying for a standard insurance policy.

Losses follow the insured as well as the home to qualify for insurance.

Losses by insurance companies are reported to the Comprehensive Loss Underwriting Exchange, better known as the CLUE report.  Always check this report before you purchase a home.  You will want the report to be clean.

Again, these reports contain the insurance claim history of the property and can help you to determine if the house is sound.

As always, if you have any questions contact your insurance agent.