The weeks after buying a new or used car often involve a barrage of paperwork, including registration, insurance, and financing. If you hold your auto loan through Amplify Credit Union, it's essential to make sure that you also meet the proof of auto insurance requirements laid out in your terms and conditions. In this section, we'll review Amplify's proof of insurance requirements and how you can satisfy them.
Key Takeaways:
- To meet the conditions of your auto loan, you must provide proof of insurance that matches the vehicle details on the loan paperwork.
- You must hold comprehensive and collision coverage on your vehicle with deductibles not to exceed $1,000.00.
Why am I required to provide proof of insurance?
Your auto loan agreement with Amplify Credit Union requires you adequately insure your vehicle against theft or damage. This agreement is why we need proof of insurance for every indirect and direct auto loan. To adhere to the terms and conditions of your loan, you must be able to verify the following information:
- Your proof of insurance matches the vehicle loan details. The year, make, model and VIN of your vehicle must match the fields listed in the loan documentation.
- Your proof of insurance meets the coverage requirements. You must verify that you have comprehensive and collision coverage on your vehicle with deductibles not to exceed $1,000.00.
How do I provide proof of insurance to Amplify?
You can reach out directly to your insurance provider to confirm that your policy meets the requirements listed below. Your insurance provider can then verify this information on your behalf by calling our insurance department directly at (800) 523-6404 or mail proof of insurance to the following address:
Lienholder: Amplify Credit Union
Control #2049
P.O. Box 2370
Sioux City, IA 51106