Frequently Asked Questions
- I have insurance – Why did I get this letter?
- Why do I need to provide my insurance information?
- How can I provide you with this information?
- What should I do if I don't have insurance?
- What happens if I don't buy insurance?
This letter was sent because we have not received a copy of your current insurance coverage. Normally, this is handled by your insurance agent or company, but in this case it was not.
One of the reasons we may not have received your insurance policy is that we are not listed as Loss Payee/Lienholder/Lender or the address that your insurance agent/company has is incorrect. Our correct Loss Payee/Lienholder/Lender name and address are in the upper left hand corner of the letter we sent.
You may have received this letter because the insurance policy sent to us had incomplete or insufficient coverage. A vehicle policy, for example, is required to include Comprehensive and Collision coverage.
If your letter states your insurance has expired, we have not received a copy of the renewal. If your letter states your insurance has been canceled, we have not received a copy of the reinstatement.
If you have insurance with the required coverage, naming us as Loss Payee/Lienholder/Lender, please go to our Insurance Information form and provide us with your insurance data.
As one of the conditions of granting your loan, you are required to maintain coverage protecting our interest until your loan is paid in full. You will find this requirement in your Loan Agreement. By giving your insurance agent our name and address as Loss Payee/Lienholder/Lender, we will generally receive a copy of any change to your coverage.
A letter was sent to you because we did not receive a copy of your policy/renewal/reinstatement from your insurance agent or company. We are asking for your help to show us that you are meeting this requirement.
If you have insurance with the required coverage, naming us as Loss Payee/Lienholder/Lender, please go to our Insurance Information form and provide us with your insurance information.
PLEASE PROVIDE ALL REQUESTED INFORMATION TO AVOID A DELAY IN PROCESSING. ALL ITEMS ARE REQUIRED. THANK YOU.
- You can complete the Insurance Information Form, and we will contact your agent to verify your coverage.
- You or your insurance agent can fax a copy of your current insurance policy to us at (770) 979-3173 or (866) 266-7898.
- You or your insurance agent can mail a copy of your current insurance policy to us at:
Insurance Service Center
P.O. Box 1549
Snellville, GA 30078
- Your insurance agent can call our customer service representatives at the number shown in the letter we sent you. Our representatives are available Monday through Friday from 8:30 a.m. to 6:00 p.m., Eastern Time. To save time, please be prepared
to provide us with the information on the Insurance Information Form.
Since maintaining insurance coverage on your vehicle or real estate collateral is a condition of your loan with us, you should contact the insurance agency or company of your choice and purchase coverage naming us as the Loss Payee/Lienholder/Lender. For vehicles, Comprehensive and Collision coverage is required, You will find our name and address in the top left corner of the letter we sent to you.
If you do not buy your own insurance, we may buy insurance to protect our collateral. The insurance we buy will generally be much more expensive than what you can buy yourself. The loan agreement that you signed with us allows us to add the premium for this insurance to your loan and increase your payments to cover the cost.
The insurance we purchase will primarily cover our interest in your collateral. It will not offer you the protection you can get when you buy your own insurance. The insurance we purchase will not provide liability coverage, which the state requires you to maintain for vehicles.
We strongly urge you to purchase your own insurance.