Update My Collateral Insurance
Proof of Insurance
Proof of insurance is required for most of the property securing loans with Texas Health Credit Union. For automobile loans, standard proof of liability coverage cards are not sufficient.
Your Insurance Policy Must Include the Following:
- Texas Health Credit Union listed as the LIENHOLDER/LOSS PAYEE (PO Box 4003, Austin, TX 78765)
- COMPREHENSIVE and COLLISION coverage on vehicles with deductibles not to exceed $500.
- Collateral description must match the collateral on the loan document.
- Policy Number, Policy Period, and Company Name MUST be listed.
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 (800) 653-8812 TO PROVIDE THE NECESSARY INSURANCE INFORMATION.
For your convenience you may visit our website at www.myinsuranceinfo.com