Attention members: Protect Yourself With Proof of Insurance
You will soon receive a letter or email requesting proof of insurance on your auto, boat, motorcycle, or RV loan, we encourage you to act quickly. The terms of your loan contract require you to have comprehensive and collision insurance for the life of your loan. Members without proof of current insurance on file will have the cost of a collateral protection insurance policy added to their monthly payment.
Briefly, collateral protection insurance protects the credit union from uninsured loss should your vehicle be damaged or lost. However, it does not cover you and is no substitute for traditional insurance.
NSWC FCU uses a system to track and monitor the insurance status of our loans. When you receive a letter or email asking for proof of insurance, please send in your documentation as soon as possible to avoid any inconvenience. For more information on collateral protection, please contact our Insurance Tracking Center at 866-744-3814.
Thank you for your assistance.