Blanket Auto, Immediate Issue and VSI Collateral Protection
Take control of your auto lending risk with Collateral Protection (CP). CUNA Mutual Group has several options that give you flexibility to be as hands on or hands off as you wish. Select the one that best fits your credit union risk tolerance and philosophy.
1 in 8 Drivers is Uninsured*
Auto Collateral Protection Insurance Options
- An easier way to protect your entire portfolio. Simply make one annual payment to manage your risk
- There are no monthly reportsto file, no member communications to send, no disclosure requirements to follow.
Blanket VSI (Single Pay)
- This coverage is the same as Blanket. Your premium is paid monthly and is based on the number of new loans you produce.
- Depending on your state, the cost could be passed to the borrower. Eliminates ongoing member communications.
- A self-service program that puts you in charge throughout the process.
- You control if insurance should be placed and what member communications are sent.
If you’re not sure which to choose, call us. We’ll work with you to understand your goals and challenges, and help you find the best coverage to protect your credit union and members.
*One in Eight Drivers Uninsured, Insurance Resource Council, October 9, 2017. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. CUMIS Insurance Society, Inc. underwrites all coverages and endorsements available through the Collateral Protection Blanket Physical Damage program. Product availability and features may vary by jurisdiction and are subject to actual policy language.