Apparently the insurance industry keeps track of personal property claims data in a private database managed by this company: https://cgi-iis.com/RAPIDWEB/en/property-risk/default.aspx
As REALTORS we don't have access to this database. But our customers can order a report on any property that they own 1 time every 12 months. Here is the shortcut to the order form: https://cgi-iis.com/rapidweb/HelpFiles/ConsumerHITSRequestFormEN.pdf
Why is this important?
Well, since the majority of transactions require mortgage financing and 99% of mortgages (that I know of) also require insurance to be in place on the house prior to funding. The information contained in this report can have an affect on both the cost of insurance and the possibility of even getting it altogether. Which means that your transaction could fall apart. Fun! Right?
Knowledge is power. If you want to get educated about how this could help or hinder the purchase or sale of a property, feel free to give me a call.