Frequently Asked Questions
Why do I need to verify my insurance through a site called MyInsuranceInfo?
We partner with MyInsuranceInfo to ensure that our members have a simple and secure way to keep their insurance information updated. To learn more about MyInsuranceInfo, see their quick guide or contact them at 800-998-0762.
Why did I receive a letter asking me to verify my auto insurance?
We generally send verification letters for one of six reasons: 1. You took out a new loan or refinanced your existing loan 2. You removed any of the required coverage from your policy 3. We received a cancellation from your current insurance company 4. Idaho Central wasn’t listed as a lienholder on your insurance policy 5. Your insurance expired 6. This is a standard insurance re-audit You can learn more on our partner’s website or by calling our help number at 1-800-456-5067
How long will it take me to verify my insurance?
Our partner MyInsuranceInfo make the process quick and easy — most people complete it within 5 minutes. To expedite the process, make sure you have your insurance policy and loan agreement on hand. Once your insurance information is received, you’ll get a confirmation email. After that, we’ll verify your documents within 3 business days and reach out to you if we need more information.
How do I know I have the right coverage?
You can find the exact requirements on your loan agreement documents. If you’d like help, feel free to call our help line at 1-800-456-5067.
What should I include on my insurance policy?
You must include 6 specific items: 1. Idaho Central Credit Union, control #1994, as LIENHOLDER/LOSS PAYEE PO Box 58608, Tukwila WA 98138 2. Comprehensive and collision coverage on your vehicle with deductibles below $1,000. 3. Collateral that matches the collateral on your loan agreement 4. Policy number 5. Policy period 6. Company name
What happens if I don’t provide or maintain my insurance?
If you don’t maintain the required insurance throughout the life of your auto loan, we may exercise our right to purchase an insurance policy and pass the policy’s cost to you, the borrower.