CUNA Mutual Group and State National Companies are collaborating to inform credit union members of coverage available through the TruStage auto insurance program.
When members take out an auto loan at their credit union, they are required to maintain collision damage insurance coverage on their vehicle, CUNA Mutual said.
The Madison, Wis.-based company and State National formed a tracked collateral protection insurance alliance in 2009 to protect credit unions in the event borrowers default on a loan and uninsured collateral is damaged.
If it is unclear whether a vehicle is insured, State National will send the member a notice requesting proof of insurance, CUNA Mutual said.
Beginning this quarter, those notices will contain information about the TruStage auto insurance program, which is underwritten by Liberty Mutual, provided the credit union is a CPI alliance customer and also makes the program available.
Existing customers of the alliance and the TruStage auto insurance programs have already been engaged to enable the new feature starting in March, according to CUNA Mutual.
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