Loan Insurance

Preserve your standard of living and your financial well-being with optional loan and vehicle protection coverage available to you as a Neighbors member.

Debt Protection Coverage

Play it safe and ensure your loan payments are covered—even when the unexpected happens.

What is Debt Protection Coverage?

Whether you’re taking out a loan to make home improvements or buy a vehicle — you never know what life has in store. There are many reasons why financially responsible individuals may not be able to fulfill the terms of their loans, including job loss, disability or injury, or even death. 

Delinquent payments or loan defaults can negatively impact your credit rating, cause financial distress, or become a burden to your family. Debt Protection Coverage can help ensure that loans are paid back, on time, even when you face an unexpected hardship.

Debt Protection Coverage is a voluntary loan-payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you. 

What life events are covered?

If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), Debt Protection Coverage will cancel or reduce repayment of your loan debt-helping to lessen your and your family’s financial worries during trying times.

Protected events include:

Is Debt Protection Coverage required?

Enrollment in our Debt Protection Coverage product is voluntary and not required to obtain a loan. Please contact us at Neighbors Credit Union for additional information on benefit maximums, eligibility, limitations, or for a copy of your contract.

Vehicle Loan and Mechanical Protection

Protect your family, your vehicle, and your credit rating with vehicle loan and mechanical protection coverage options available to you as a Neighbors member.

Guaranteed Asset Protection (GAP)

GAP for vehicles will protect you from serious financial loss in the event your vehicle is damaged beyond repair or stolen. GAP will pay the difference between your insurer’s settlement and your loan balance. Sign up for GAP when applying for your vehicle loan and the cost can be easily rolled into your monthly loan payment. 

Mechanical Repair Coverage (MRC)

Whether your vehicle is no longer under warranty or repairs are excluded from the warranty coverage, major vehicle repairs can create big risks for car owners—especially if you still have a loan on your vehicle. For a few dollars a month, you can protect your vehicle and your finances from the cost of unexpected, covered breakdowns (engine, transmission, steering, brakes, electrical, and more). Plus, have peace of mind with the plan’s 24-hour roadside assistance, towing, emergency travel expense and rental reimbursement. Some restrictions apply and coverage is not available for pre-existing conditions, commercial vehicles, salvaged or rebuilt vehicles, or trucks over one ton. See branch for more details.

Insurance Proof

Maintaining vehicle insurance is a requirement of your loan, as well as Guaranteed Asset Protection and Mechanical Repair Coverage. Verify your insurance coverage easily and securely by clicking here.

Protect Your Loan and Vehicle with Coverage Options available to you as a Neighbors member.

To learn more about our Debt Coverage Protection, GAP, and other loan and vehicle coverage options, reach out to us today.

TruStage Auto & Home Insurance Program

Exclusively for credit union members like you, the TruStage Auto & Home Insurance Program provides affordable top-quality protection. You could enjoy discounted rates combined with online convenience and 24/7 claims service.

Get your free quote today or call 1-855-483-2149

TruStage™ Auto and Home Insurance program is offered by TruStage Insurance Agency, LLC and issued by leading insurance companies. Discounts are not available in all states and discounts vary by state. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union.