1. Know who you are buying insurance from. Over your lifetime you will spend ten-of-thousands of dollars on insurance. A source like http://www.jdpower.com/insurance is great way to find out what insurance companies have the best products, have the best service, and the ability to meet your needs before a claim ever occurs. 

2. Make sure you know what is included in your policy. All homeowner insurance policies are not the same and shopping purely on price can be dangerous. It is important to understand how much coverage is included, how a claim will be paid, what the deductible is and if their are any “special” coverages included.

3. Don’t wait until the week before settlement to start the insurance process. Many insurance companies require their own inspection of the property and certain conditions may require additional inspections by certified contractors. Jeff suggests getting the process started right after your offer is accepted.

Check out all of Jeff’s video tips and insights on his new YouTube channel YourLancasterHome TV. We hope to be bringing you our own video blog soon!

We have all seen the car commercial where the guy is on the used car lot and says “Show me the CARFAX®” before he purchases a vehicle. A CARFAX® report provides potential buyers a vehicle’s history of ownership, titles and accidents. The report allows buyers to make an informed purchase decision and gives them confidence that they are buying what is advertised. Did you know the same type of report is available when you buy a house too?

What about something like CARFAX® for houses? The CARFAX® for a home is called a C.L.U.E.® or Comprehensive Loss Underwriting Exchange report. A C.L.U.E.® report shows insurance claims made on a property for the past 5 years and insurance companies use this information for underwriting homeowner insurance (See a C.L.U.E. example).

However, home buyers can also get a C.L.U.E.® report by requesting the seller to purchase a C.L.U.E. Home Seller’s Disclosure Report for $19.95. Remember that the buyer or real estate agent cannot order the C.L.U.E.® report and it only can be provided by the seller or owner. The report shows the same claim history on the property that insurance companies use but it removes all of the seller’s personal information that they would want to keep private.

If you wouldn’t buy a car without the CARFAX® report, should you buy a home without a C.L.U.E.® report? Let me know your thoughts.