{"id":20425,"date":"2024-01-24T00:47:06","date_gmt":"2024-01-24T07:47:06","guid":{"rendered":"https:\/\/woodriverweekly.com\/?p=20425"},"modified":"2024-01-22T13:48:55","modified_gmt":"2024-01-22T20:48:55","slug":"why-you-should-check-the-claim-history-on-the-home-before-you-make-an-offer","status":"publish","type":"post","link":"https:\/\/woodriverweekly.com\/index.php\/2024\/01\/24\/why-you-should-check-the-claim-history-on-the-home-before-you-make-an-offer\/","title":{"rendered":"Why You Should Check The Claim History On The Home Before You Make An Offer"},"content":{"rendered":"

BY ANNA & MICHELLE<\/em><\/p>\n

Buying a home is a big decision, and there are a lot of things to consider. One important factor to consider is the home\u2019s claim history. A home\u2019s claim history can tell you a lot about the property, including its potential risks and liabilities.
\nIt is important to identify potential risks because a home with a history of claims may be more likely to experience future claims. This could be due to the location of the home, the age of the home, or the materials used in construction.
\nThe cost of insurance can be higher for homes with a history of claims. Insurance companies factor in the risk of future claims when setting premiums.
\nYou may be able to negotiate a lower price if you discover the home has a history of claims. This is because the seller may be motivated to sell the home quickly to avoid future claims.
\nThe Comprehensive Loss Underwriting Exchange (CLUE) is a database that tracks insurance claims filed on homes.\u00a0A CLUE report can be purchased for a fee, and it will show you the number and type of claims that have been filed on the property within the last seven years.
\nSellers are entitled to one free copy of their LexisNexis CLUE report each year; there is a nominal fee for additional, original reports.\u00a0Contact LexisNexis by calling 888-497-0011 or by emailing consumer.documents@lexisnexisrisk.com.\u00a0As a potential buyer, your agent can request a copy of the report from the listing agent who may have to ask the seller to order it themselves, if they haven\u2019t done so recently.
\nAnother option is to instruct your home inspector to look for signs of damage that may have been caused by previous claims.
\nChecking the claim history of a home is an important part of due diligence in the home-buying process.\u00a0It is important to remember that the claim history is not a perfect predictor of the future. Just because a home has had claims in the past does not mean that it will have claims in the future. However, the claim history can give you valuable information that can help you make an informed decision about whether to buy the home.<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

BY ANNA & MICHELLE Buying a home is a big decision, and there are a lot of things to consider. One important factor to consider is the home\u2019s claim history. A home\u2019s claim history can tell you a lot about the property, including its potential risks and liabilities. It is important to identify potential risks […]<\/p>\n","protected":false},"author":1,"featured_media":20426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","_pvb_checkbox_block_on_post":false,"footnotes":""},"categories":[64,38],"tags":[],"class_list":["post-20425","post","type-post","status-publish","format-standard","has-post-thumbnail","category-better-homeowners-news","category-sponsored"],"_links":{"self":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/20425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/comments?post=20425"}],"version-history":[{"count":1,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/20425\/revisions"}],"predecessor-version":[{"id":20427,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/posts\/20425\/revisions\/20427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media\/20426"}],"wp:attachment":[{"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/media?parent=20425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/categories?post=20425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodriverweekly.com\/index.php\/wp-json\/wp\/v2\/tags?post=20425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}