Insurance Requirements
Insuring your vehicle is a critical and necessary step in protecting yourself—and others—from any surprises you might encounter on the road. VyStar Credit Union wants you to be safe at all times. We also require all our members with a VyStar auto, motorcycle, boat, RV, and/or ATV loan maintain insurance coverage to meet the standards outlined below at all times during the term of the loan.
If we do not receive your insurance information as proof of meeting the requirements for your loan, VyStar will mail you a notice requesting this information. To avoid any concerns, please ensure you notify your insurance agent to add the collateral (your auto, motorcycle, boat, RV, and/or ATV) for your new loan to your policy right away. Ensuring they list VyStar as lienholder will generally aid in our receipt of your coverage information from your insurance agent on your behalf.
VyStar’s insurance requirements are as follows:
VyStar Credit Union must be listed as the lienholder/loss payee on your insurance policy.
The collateral must be covered by Comprehensive and Collision (or physical damage) Coverage, with deductibles no greater than $1,000.00.
The collateral securing the loan must be insured as noted above for the entire time of the loan, beginning on the first day, with no lapses.
Frequently Asked Questions: Important Information
Who is responsible for ensuring my collateral is insured?
You must have the collateral insured through your existing insurance policy/carrier or purchase insurance coverage for the collateral. Insurance carriers generally must hear from the borrower and cannot cover the collateral or add it to an existing policy based on someone else, such as a dealership employee, acting on their behalf.
Who is responsible for providing VyStar with my insurance information?
Either you or your insurance agent can fax a copy of your insurance information to VyStar at 877-745-5834. (Please allow 24 hours for processing.) Or, you/your insurance agent can mail it to:
VyStar Credit Union
P.O. Box 924332
Fort Worth, TX 76124
You/your insurance agent also have the option to submit the insurance information online at www.myloaninsurance.com using the special instructions on the website and the reference ID contained in the request for proof of insurance that was mailed to you, if applicable.
Please keep in mind that your insurance ID card does not have enough information to verify that your policy meets our insurance requirements. When sending your insurance information to VyStar, please make sure to provide a copy of the declarations page of your insurance policy.
What if I have further questions?
If you have any questions about VyStar loans or our insurance requirements, our representatives are more than happy to assist you. Please visit us at any VyStar branch, or speak to a representative by calling 904-777-6000 or 800-445-6289. Our Contact Center is available Monday through Saturday, from 7:00 a.m. to 7:00 p.m., excluding holidays.
This information pertains to autos, boats, motorcycles, RVs and ATVs used to secure consumer loans only. Mortgage and non-auto commercial insurance requirements are not listed here.