CLUE Report - What You Must Know!
What the heck is the clue report? That is possibly what you are saying. Even worse is if you are saying “I don’t have a CLUE!” Oh you are sooo funny! I forgot to laugh! :S Seriously though if you are interested in purchasing a house or currently own a house you need to understand the CLUE report.
So what is it? The clue report is a centralized database that keeps track of all hazard insurance claims on a house for 7 years. The important part of this is that the clue report is attached to BOTH the homeowner and the home. The most troubling issue is that phone calls alone to your insurance adjuster is seen in many states as a claim! This is not true though for the state of Maryland. In the 2006 legislature they passed a law stating that ones insurance premium may only go up due to actual damages which are claimed and not just phone calls! If you want more information on that law you can go here.
So let us just say an individual is in a state other then Maryland and that every time a rain storm occurred they called their insurance agent. Due to all of those phone calls this would negatively effect this individual’s CLUE report. This could possibly cause this individual difficulty when trying to get hazard insurance on another property, due to this information being on their clue report. As well, when individuals are trying to purchase this individuals house they may have difficulty as well. Either they will be declined hazard insurance or have to pay an outrageous price for hazard insurance. As many of you know, the reason that getting hazard insurance is so IMPORTANT is that if you do not have it you can not get a loan on the house! Clearly, this is a HUGE issue if one does not know about it. So you are asking yourself now - how do I find out my CLUE report or a property that I am looking at. I am GLAD YOU ASKED! 
First, go to this website. If you are a homeowner you will be able to get your FREE annual CLUE report, so that you can determine if their are any issues that you should be worrying about. As well, if you are a seller you can purchase a “Seller’s Disclosure of CLUE report. You can also find out much more about the CLUE report on that website.
Have a question or concern on the CLUE report? Email me at psingh@rempower.com and I will be happy to respond ASAP. I am always happy to get emails and phone calls! Thanks so much
I will look forward to seeing you all in a upcoming workshop!
Prabhjit Singh
psingh@rempower.com