As your credit union, we’re committed to helping you protect your vehicle and keep your auto loan in good standing. One of the simplest and most important ways to do that is by keeping your auto insurance active for the entire life of your loan.

What Happens If Your Coverage Lapses?

If your insurance coverage lapses, or if we don’t receive updated proof of insurance, Collateral Protection Insurance (CPI) may be added to your loan. CPI is a type of insurance we’re required to place on the vehicle to protect our interest in it. It also protects against physical damage. However, it’s usually more expensive and offers less coverage than a policy you can choose on your own.

The Good News? It’s Easy to Avoid CPI, What you can do is:

• Keep your auto insurance policy active at all times
• Send us updated proof of insurance whenever you renew or change providers
• Make sure Money One FCU is listed as the Loss Payee on your auto insurance

In order to keep us updated, you can email your current insurance information to us at: moneyonefcu@myloaninsurance.com.

Taking this small step can help you avoid unnecessary costs and ensure your loan stays in great shape.

Need Auto Insurance or a Quote?

If you’re shopping for coverage or want to compare rates, we’ve partnered with trusted providers to make it easy.

• Get a quote from our partners at Blue Ridge Risk Partners.
• Get a quote from our partners at TruStage.

Whether you’re updating your policy or getting new coverage, these resources can help you find affordable, reliable insurance that meets your needs.

If you have any questions or need assistance submitting your insurance information, don’t hesitate to reach out. We’re always here to support you every step of the way.