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A CLUE report is a document that shows the seven-year history of loss associated with a person and a piece of property, such as a house or a car. Insurers use a CLUE report to determine the risk of insuring that property. Similarly, sellers or buyers may run the report to learn of any undisclosed damage and to determine an appropriate price for the car or home, in the event it’s being sold.
What Does a CLUE Report Show?
CLUE stands for Comprehensive Loss Underwriting Exchange. It's a database of loss information offered in response to the Fair and Accurate Credit Transactions (FACT) Act. Insurers and individuals can use a CLUE report to learn about the seven-year loss history of a piece of property, such as a house or a car. The report includes:
- The owner's name and address
- Their social security number
- The insurance company's name
- The insurance policy number
- The claim number
- The date of loss
- The loss type
- The amount paid out by the insurance company
Additionally, if the report is a CLUE Auto report, it will include vehicle information, such as the vehicle identification number (VIN), the vehicle's year, make and model, and the driver's license number. If no claims have been filed in the past seven years, or if the owner is insured by a company that does not participate in CLUE, the relevant CLUE report will be blank.
How is a CLUE Report Used?
If you're applying for homeowners insurance, the insurance company will run a CLUE Personal Property report to determine the level of risk they would be taking to insure your home. Similarly, if you're buying a home, you can run a CLUE report to find out about any past damage the current owners didn't disclose.
For example, if you see that in the past seven years, the current owners filed two separate claims under their flood insurance policy, you might want to discuss the scope of that damage with them, and factor the findings into your assessment of the risk of future flood damage, and your offer.
Like a standard CLUE report, a CLUE Auto report shows the seven-year history of losses associated with a driver and their car. Insurers will run this report to determine the risk posed by insuring the car. You, too, can run a CLUE Auto report, in combination with a VIN report, to determine if the car you're considering buying is a salvaged vehicle.
How is a CLUE Report Different than an MVR?
While CLUE Auto reports focus more on the actual vehicle, a Motor Vehicle Report (MVR) relates more to the driver. MVRs include personal information, such as the driver's height, eye color, and weight, so it's not as freely available as a CLUE Auto report. It will also include information regarding the person’s driving history, including their traffic citations, driving record points and DUI convictions. Generally, MVRs only include the past three years of a person's driving history, although the age of the data varies by state.
How Do I Get a CLUE Report?
CLUE reports are offered for a fee by LexisNexis, a legal- and risk-solutions company. You can order either a CLUE Personal Property report or a CLUE Auto report over the phone, by mail or by visiting their website, where you can also see what a sample report looks like.