Do you know about C.L.U.E. Reports?  If you are purchasing a home, you should be familiar with the term.  A C.L.U.E. Report is a Comprehensive Loss Underwriting Exchange Report that provides details on insurance claims filed in the past five years.  These details may include wind, water, or mold damage.  They are property specific, not people specific, and impact the cost of insuring the home. 

How does this impact buying a home?  If you want to purchase a home and it has had damage in the past five years, you insurance company will know about it before they insure the home.  They may choose not to insure the home for reasons listed above.  So it is possible you could find the home you want and not be able to insure it, even though you have never had an insurance claim on a property.  Not likely to happen, but it could.  Always check into an insurance policy before you purchase a home to make sure it is insurable.

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