A reliable agent can provide the proof of insurance in a week or less.
If you do not provide proof of insurance before the 30-day deadline, STCU will purchase insurance for you at a premium that often is more expensive than what you could purchase yourself. You should have recently received our "MyLoanInsurance" welcome letter, noting that under the terms of your STCU loan, your vehicle must be fully insured within 30 days after it was purchased. After 30 days, you must provide insurance on the vehilcle with no lapse in coverage or risk violating your loan agreement. It must come from your insurance agent or insurance company. Proof of insurance is the legal documentation required by your STCU loan agreement to show that you have fully insured your vehicle against theft or damage. ( This is not the same thing as the little proof of insurance card drivers are required to show state patrol or other authorities if stopped.) Congratulations on your new wheels! Thanks for choosing STCU for your financing.Īs the vehicle owner, it is your responsibility to provide " proof of insurance" to the credit union.
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