top of page
Highway

Insurance Requirements:

LLFCU requires that our members have comprehensive and collision insurance, also known as “full coverage insurance”, with up to $1,000 deductible for each. La Loma Federal Credit Union must be listed as lienholder/loss payee. If any changes occur in your policy or you switch insurance provider, please send us your updated insurance documents. Please note: if there is a lapse or break in coverage, you may be subject to collateral protection insurance and any fees associated with it.

 

Lienholder Address:

La Loma Federal Credit Union

Attn: Insurance Processing Center

P.O. Box 791924

San Antonio, TX 78279

 

Attention Insurance Providers/Agents/Brokers: 

The credit union requires proof of insurance. A binder of insurance and/or policy declarations page are sufficient evidence of insurance. Please note: insurance cards are not accepted.

Ready to upload your insurance documents: 

Before uploading, please ensure the following:

  • The insurance binder contains details of your insurance policy: full coverage insurance, containing comprehensive and collision coverage, with deductibles not exceeding $1,000 for each.

  • La Loma FCU listed as lienholder/loss payee.

  • Your vehicle description and VIN number

  • Your policy number and your insurance provider’s name and phone number.

Auto Insurance

  • What is collateral protection insurance?
    If you have a collateralized loan with La Loma Federal Credit Union, it is important that we receive acceptable proof of the required insurance or it may become necessary to protect our interest by purchasing a Collateral Protection Insurance (CPI) certificate at your expense. When purchased, this insurance will be added to the balance of your loan. Facts about CPI coverage: Be aware that CPI is not a substitute for standard insurance. CPI generally carries higher premiums than insurance you can purchase on your own. CPI protects only our interest in your collateral for claims filed by us. More importantly it does not provide any liability coverage for claims made against you. CPI does not satisfy mandatory liability insurance or financial responsibility laws of this or any other state. Vehicles must be insured even if in Planned Non-Operational (PNO) status or in storage. For these reasons, you must provide your own insurance. Primary insurance requirements: Continuous insurance coverage with no lapses. Lender Name named as lien holder or loss payee. La Loma Federal Credit Union PO Box 791924 San Antonio, TX 78279 Comprehensive and collision coverage (or physical damage) with deductibles not greater than $1,000. No excluded drivers. No insurance ID cards please ONLY INSURANCE DECLARATION PAGES. You can provide your insurance by mail, fax or Internet. La Loma Federal Credit Union Attn: Insurance Tracking Center P.O. Box 791924 San Antonio TX 78279 Vehicle Tracking Phone: (800)237-5781 Fax: (866)557-2071 Email: lalomafcu@imcovered.com https://llfcu.imcovered.com/
  • Why do have charges from CPI?
    CPI is a collateral protection insurance purchased by LLFCU when there is no proof of coverage. A $65 monthly fee is added onto the loan balance with a $10 administrative fee, which may be corrected if the correct insurance documents are submitted.
  • Does La Loma FCU offer automobile insurance?
    We do not offer automobile insurance. However, we work with TruStage’s insurance program with Liberty Mutual. Besides competitive rates, this program offers our members customized insurance, reliable service, and optional 24-hour roadside assistance. Visit www.trustage.com/auto-insurance for more information.
  • Can my insurance agent upload the documents on my behalf?
    Yes, they can! On the member portal (www.imcovered.com/llfcu) your agent can click on “Are you an Insurance Agent? If so, Click here.” This section is specifically for your insurance agent. They can also email or fax your insurance documents on your behalf.
  • What kind of insurance coverage do I need for my auto loan?
    If you have your auto loan financed through La Loma FCU, you are required to maintain insurance coverage for the vehicle. The coverage must include Comprehensive and Collision with deductibles of $1,000 or less and La Loma FCU must be listed as the Loss Payee/ Lienholder for the policy.
  • What insurance document does La Loma FCU require for auto loans?
    We require an insurance binder or policy declaration page. These documents give us detail of the type of coverage the vehicle has. We must be listed in such document as lienholder/loss payee. The deductibles for comprehensive and collision are required, and cannot exceed $1,000 for each.
  • Why did I receive a letter in the mail regarding automobile insurance?
    It may be due to the following reasons: · A change or cancellation occurred in your policy · Lienholder was removed · A renewal occurred, but we have not received updated insurance documents.
  • I need some help.
    Please email your inquiry at insurance@llfcu.org and a representative will reach out to you to assist you with any questions you may have.
bottom of page