PageHeader_InsuranceInvesting


It's good to make sure you have the right insurance. Choose from below for the protection and coverage that's right for you.
LAFCU Safeguard Insurance

It's good to make sure you have the right insurance and investment advantages. At LAFCU you gain great benefits by being a member with discounts on home, life and auto insurance. We also like to provide you with the right options and/or combinations that best fit you for your savings and retirement.


Discounted Insurance from LAFCU Safeguard Services >>

GAP Insurance

PageHeader_GAP

If your vehicle is totalled or stolen, your primary insurance settlement may be significantly less than your outstanding loan or lease balance. The resulting "gap" may cause you financial hardship.

GAP insurance is designed to cover the difference between your outstanding loan or lease balance and the actual cash value of the vehicle. GAP also covers up to $1,000 of your deductible, and an additional benefit may be available toward the purchase or lease of a replacement vehicle.

For more information about LAFCU's GAP insurance, call (517) 622-6600.

Insurance products sold through or in the credit union are not insured by the National Credit Union Administration and are not issued, guaranteed, or underwritten by the credit union or the National Credit Union Administration or any other federal goverment agency.

Collateral Protection Insurance
Untitled Document
WHAT IS CPI (Collateral Protection Insurance):
Collateral Protection Insurance may be issued through the credit union's insurance program. This insurance may cost more than insurance you can buy on your own. The coverages afforded by CPI are primarily to protect the credit union's interest. CPI will not satisfy the requirement of any financial responsibility law, nor does it provide liabiilty coverage.

WHY DID I RECEIVE A NOTICE ABOUT PROVIDING PROOF OF INSURANCE?:
Your loan agreement requires you to maintain comprehensive and collision coverage on your vehicle for the life of your loan. We require that you provide us evidence that you have established acceptable insurance coverage as outlined in the loan agreement.

YOUR INSURANCE POLICY NEEDS TO INCLUDE THE FOLLOWING:
1. LAFCU as LIENHOLDER/LOSS PAYEE.
LAFCU-Insurance Services
P.O. Box 690107
San Antonio, TX  78269-0107

2. COMPREHENSIVE and COLLISION coverage on vehicle with deductibles not to exceed $1,000.
3. Collateral must match collateral on loan document.
4. Policy number, policy period, and company name MUST be listed.

PLEASE READ:
Should you fail to maintain the required insurance throughout the life of the loan, the lender may (but shall not be required to, and without prejudice to its rights if it does not) purchase a policy for its own protection and pass the cost of the policy on to you, the borrower. The lender, may, but is not required to, attempt to contact you prior to purchasing the insurance. The lender may at its option, add the premium to your loan. This may cause an increase to your regular payments.

PLEASE HAVE YOUR AGENT CALL (866) 401-3649 TO PROVIDE THE NECESSARY INSURANCE INFORMATON OR FAX THE INSURANCE DECLARATION PAGE TO (866) 687-2238.

For your convenience, you may visit our website at www.imcovered.com/lafcu


HOW DO I GET A REFUND?
If we received a copy of a comprehensive and collision insurance policy that has been purchased from your personal insurance agent or company and the policy meets all the requirements stipulated in your loan agreement, we will promptly refund any unearned portion of the premium. We will apply this refund to your loan, thus reducing its balance.