Submit Proof of Insurance
Why Do You Need Insurance?
When you get a loan at United Energy that is secured by a vehicle, your loan agreement requires you to maintain insurance. Comprehensive and collision coverage is required on all vehicle loans until paid in full. The loan contract that you sign with United Energy requires you to insure against loss by theft, fire, and damage due to collision or similar perils encompassed by the term “comprehensive”. You must also name the credit union as the loss payee. Your comprehensive and collision deductibles may not be higher than $1,000. Failure to maintain insurance could result in repossession of your vehicle.
You may obtain insurance through an insurance company of your choice. If you fail to obtain or maintain insurance, the credit union may, but is not required to, purchase any type of insurance it feels is necessary to protect its interest in the vehicle. The cost of the insurance will be added to the balance of your loan and your payment will increase to cover the cost of the insurance.
NOTE: INSURANCE THAT THE CREDIT UNION PURCHASES WILL NOT INCLUDE LIABILITY INSURANCE AND WILL NOT PROTECT YOU AGAINST ANY CLAIM MADE AGAINST YOU.
United Energy requires that you provide us evidence that you have obtained acceptable insurance coverage as outlined in the loan agreement. It is your responsibility to continue proper insurance coverage during the life of the loan and to advise United Energy when you change insurance companies. It is important to list the credit union as the lien holder so that we will receive updates when your policy renews.
1,000 maximum deductible on comp/collision
Must be listed as a driver on the policy
Must have the credit union listed as lien holder
United Energy Credit Union
8790 FM 1960 Bypass Rd W #A500
Humble, TX 77338