Comprehensive Loss Underwriting Exchange (C.L.U.E. Report).

Comprehensive Loss Underwriting Exchange (C.L.U.E. Report).

Most insurance consumers probably don’t even realize that all insurance companies actually talk to each other! This is actually done through a Comprehensive Loss Underwriting Exchange (C.L.U.E. Report). This reporting agency is where all claims filed against you reside, so any potential new insurance company can find a claim history on you.

We recently insured a long time client for a new purchase of another rental property. While this may be his 11th or 12th rental, not all locations are insured by us but also by another insurance broker. We were shocked to find 4 property claims in the past 3 years, as none were through our agency.

I guess part of the lesson is that even with your own clients, we don’t know the complete story about everything going on with them. So through thorough questioning and a C.L.U.E. check, we can then have the complete picture of a clients claim history.

Comprehensive Loss Underwriting Exchange (C.L.U.E. Report).

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There has been instances where a client truly didn’t know their history, as their “brand name” insurance company told them “just call the 1-800 claim number”. What the “name brand” agent doesn’t say is that that question to a claims person is actually going on their report. So a strong wind knocked down your roof-top antenna and you wanted to know if it was covered. The quick and simple answer is yes but subject to your deductible of $1,000 (in this case).

Calling your insurance adviser is better than calling a 1-800 person, as us independent agents don’t get involved in C.L.U.E. reporting – only insurance companies do. That is why dealing with an independent insurance broker is often better because of our advice & help and not having to say “Call 1-800-claims”.

Being a professional adviser to others is much more fulfilling than using policy numbers, 1-800-numbers and call center activity. Insurance is much more than that and should be treated AS SUCH. Clients today want personal service – sure they will do their online look-ups and rating but they still want that personal touch.

We see it every day – and am thankful for it every day!

Tom Larsen

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