PROOF-OF-COVERAGE 

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Frequently Asked Questions


The following information may help you better understand why you are being asked to provide proof of coverage.


What specific information do you need to see on my insurance policy?

What is the loss payee / mortgagee?

Why do you not accept an ID card as proof of insurance coverage?

What is the simplest way to get you the information you need if I do not have it or my insurance policy does not fulfill your requirements?

What does the insurance you provide cover, in the event I fail to obtain my own insurance?

How long do I have before CPI is actually placed on my loan?

What are the maximum deductibles for my insurance coverage?

Why did you not receive my insurance when my agent has told me that it was faxed to you?

I am currently not using the vehicle, it is in storage, or I am out of the country. Why do I need insurance?

Why does my lender have to be listed as the loss payee or mortgagee on my insurance policy?

Doesn't my lender contact my insurance company and have them added as the loss payee or mortgagee?

What is Collateral Protection Insurance or Creditor Placed Insurance?

How is the CPI premium calculated?

What should I do if my vehicle has been repossessed and or I am in bankruptcy.

I have had CPI insurance placed on my loan but I have since obtained other coverage. How do I get a refund?


If you have further questions please contact the insurance department directly via the phone number, fax number or address listed on the notice you received.