Loan Insurance Services

If you’ve ever bought a vehicle from a dealership, then you know about the additional insurance and protection services offered with your vehicle purchase. But did you know TruService Community Federal Credit Union offers the same services, often for half the price? Before you buy, call us and ask about our Guaranteed Asset Protection (GAP), Mechanical Repair Coverage (MRC), and Credit Life Insurance products. We can give you the peace of mind you deserve without the hassle and expense of going through the dealership.

GUARANTEED ASSET PROTECTION (GAP)?

When you buy a new or used vehicle, there’s no way to know if it will be stolen or totaled in an accident. And, many times, primary auto insurance settlements don’t pay off your loan balance. With the purchase of GAP, you’re helping to protect your vehicle investment against a possible financial loss.

HOW DOES GAP WORK?

The GAP fee can be included with your monthly payments or made separately by cash, check, charge, or possibly electronic funds transfer. If your car is stolen or totaled in an accident and there’s a difference between what you owe on your auto loan and the value of your vehicle, GAP will help cancel the difference based on the terms of your member agreement. By adding GAP while signing your loan paperwork, you’re helping take responsibility for your financial future. Your loan officer can show you how. You may cancel GAP at any time after your enrollment date. If you cancel within 90 days, you’ll receive a full refund. If you have questions, simply contact your credit union.

WHY IS IT VALUABLE?

Vehicles often depreciate rapidly, and vehicle loan terms have typically been increasing in duration. GAP will help cancel the difference between the primary insurance settlement and what you may still owe on your vehicle loan. In addition, if your vehicle is stolen or totaled in an accident, it will cancel $1,000 of your next loan with your credit union when you purchase a replacement vehicle within 60 days of your primary insurance settlement. GAP helps you prepare for the unexpected.

ENROLL TODAY.

Learn more about Guaranteed Asset Protection.

Even the most reliable vehicle can develop a mechanical problem. That is why so many people have come to depend upon Route 66 Warranty. Route 66 Warranty is the most comprehensive extended warranty coverage for all makes and models of automobiles so that you will be able to enjoy your new purchase and have “Peace of Mind.” No matter where you travel in the United States, you are protected against major mechanical expenses, and there is NO deductible!

KEY BENEFITS

• Route 66 Warranty has 25 years of experience

• All warranties are FULLY insured

• $0 deductible

• 30-day free look

• Nationwide coverage

• 24/7/365 Emergency Road Service and rental car benefit

• FULLY transferable

WHAT IS DEPRECIATION PROTECTION DPW?

Depreciation Protection kicks in if your vehicle is ever totaled or stolen and not recovered at any time over the life of the loan. It waives some or all of your loan balance in the event of the total loss of your vehicle. The waiver benefit is equal to the difference between your vehicle’s MSRP or retail value at the time of DPW purchase, less the amount of your loan balance at the time of total loss. (The benefit cannot exceed the DPW addendum limit or your outstanding loan balance at the time of total loss.)

DPW IS IDEAL FOR THOSE WHO:

• Put money down or have equity in the vehicle

• Make accelerated loan payments

• Desire protection from vehicle depreciation

• Desire peace of mind knowing the money invested in a vehicle could be protected

BENEFITS OF PROTECTION

• Benefit triggered by collision or comprehensive total loss, including theft

• Life of loan protection

• No mileage, make or year restrictions

• Open enrollment

• 100% refundable for the first 60-days

• Accidental Death protection included, which provides for cancellation of up to $1,000 of your outstanding loan balance if you die in an accident

Learn more about Depreciation Protection.

WHAT IS Debt Protection Coverage?

It’s a way to help protect your loan. There’s no way to predict an injury, illness, unemployment or unexpected death, but you can take steps along the way to make sure your family is protected when the unexpected happens to you. Debt Protection may help to make your loan payment to make life easier for you and your loved ones.*

HOW DOES IT WORK?

The premium may be included with your monthly payment. If you have a balance on your loan and are disabled due to a covered injury or illness, or in the event of your unexpected death, or involuntary unemployment the coverage may help cover your loan payment.*

By taking a few simple steps while signing your loan paperwork, you’re helping take responsibility for your family’s financial future.

You can cancel coverage at any time if you change your mind. If coverage is canceled within the first 30 days, you will receive a full refund if the premium has been paid. Coverage is immediate for eligible borrowers.

WHY IS IT VALUABLE?

Debt Protection may include life, disability and unemployment coverages. You and your family may not have to make loan payments if you’re disabled or unemployed or in the event of your unexpected death, it may help pay off the loan.* Savings, salary, or payoffs from other insurance may be used for other important things, giving your family financial freedom when they need it most.

* Up to your policy maximums; per terms and conditions and exclusions on your Insurance Certificate.

Learn more about Debt Protection

Securian is the marketing name. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the program agreement for a full explanation of the terms. Vermont: Claims may be filed by contacting your credit union. If you have questions regarding your claim status, contact us at (800) 260-2299.