Comprehensive Loss Underwriting Exchange

What Does Comprehensive Loss Underwriting Exchange Mean?

The Comprehensive Loss Underwriting Exchange (CLUE) is a database that provides information about insurance claims for properties. It allows insurance companies to access details about past claims filed for a specific property, helping them underwrite insurance policies for new property owners.

Insuranceopedia Explains Comprehensive Loss Underwriting Exchange

CLUE reports are highly valuable for insurance companies in assessing risk. They provide insights into whether a property has a history of water damage, theft, structural damage, and other issues. This information is used to help determine the cost of premiums when underwriting a property insurance policy for new owners. Past claims on a property can push rates above the average cost of homeowners insurance, so reviewing your CLUE report before shopping can help you make sense of the quotes you receive. Because every carrier weighs claim history differently, it’s worth getting quotes from several of the best homeowners insurance companies before deciding on a policy. As a result, many property insurers review CLUE reports before issuing insurance policies.