ECU Loan Protection and Insurance Options

Debit protection products, Proof of Insurance

Protect Your Purchase and Insure Your Ride

Life moves fast, and accidents and unexpected challenges happen. Your experts at Education Credit Union help you protect your vehicle loan, your home, and your finances when life takes an unexpected turn. ECU offers a variety of loan protection, home insurance, auto insurance, and other coverage options designed to help you stay on track if an accident or unforeseen event leaves you facing unexpected expenses and unpaid bills.

Tiny car in the palm of a mans hand with a shield icon
Tiny car in the palm of a mans hand with a shield icon

ECU Guaranteed Asset Protection (GAP) Insurance

For Auto Loans

Protect your vehicle investment with ECU GAP insurance

If your car is stolen, damaged or totaled, auto insurance typically pays the vehicle’s residual value. If you owe more than that amount on your loan, you may have to pay the difference out of pocket.

ECU GAP insurance can help cover the gap between what you still owe on your vehicle loan, and what your auto insurance company pays after a total loss.

GAP insurance provides protection for both new and used vehicles with four great benefits:*

  • Low-cost protection for a one-time fee of $575.

  • Protection up to 84 months and loan-to-value rate of up to 150%.

  • GAP will help cover up to $1,000 of your deductible if there is a “gap” after the primary insurance settlement is paid.*

  • The GAP premium of $575 can be added to your loan with minimal effect on your monthly payment, and it can be added after the loan closes.

*Deductible is covered as part of the deficiency balance and is not paid directly to the borrower.

ECU TotalRestart Auto Replacement Benefit (Exclusive Member Protection)

Get an exclusive advantage if your vehicle is totaled. TotalRestart helps protect you from rapid vehicle depreciation and may qualify you for a credit when you return to ECU to finance a replacement vehicle. Available only when you finance your new vehicle purchase loan with ECU. A benefit that will help protect you against vehicle rapid deprecation and gives you an opportunity for a fresh “Restart” if you experience a total loss on your vehicle. With TotalRestart you may be eligible for credit when you return to ECU for financing of a replacement vehicle. This is exclusive protection only available when you finance your vehicle loan with ECU.

ECU Vehicle Extended Service Contracts (Extended Warranty Coverage)

Stay ahead of costly repairs after the factory warranty ends. You can add an extended warranty to your ECU loan at any time—not just when you purchase your vehicle. Extended coverage may cost less than dealer plans and can help you save money if your car ever needs repairs after your manufacturer’s warranty has expired. It can also add value if you decide to sell your vehicle. Pre-owned car buyers often view a vehicle with transferable coverage more favorably because it suggests the vehicle has been well maintained. If the buyer declines the option to purchase your remaining coverage, you can cancel the warranty and apply for a prorated refund.

Key Features May Include:

  • Low deductibles

  • Roadside assistance reimbursement

  • Car rental coverage

  • Nationwide protection

  • Convenient toll-free access to services

  • Reimbursed travel expenses

  • Increased vehicle resale value

ECU Debt Protection (Loan Payment Protection)

Protect your cash flow and your credit when life changes fast. Debt Protection may cancel your loan or monthly loan payments up to a maximum amount, in the event you become impaired and have trouble paying your loan. Choose coverage for death, disability, involuntary unemployment, or FMLA-qualifying events.

Benefits of ECU Debt Protection

Protection

  • Single and joint coverage available

  • Helps safeguard your family’s financial security

  • Helps preserve your credit rating

Convenience

  • Add coverage to your monthly payment

  • Simple claims process

Eligibility

  • Protection available up to age 70

  • Eligibility questions may apply, no medical exam required

Your purchase of any of the above ancillary products is optional. Whether you purchase any of these products will not affect your application for credit or the terms of any existing credit agreement you have with us.

Get more information

  • Complete the inquiry form, or

  • Call 806-358-7777 to speak with an ECU representative about coverage options.

Smarter Protection is easy with ECU!

How to Provide Insurance Proof to ECU

How to Provide Auto Insurance Proof to ECU

Share your Insurance Proof and Ensure You are Covered

One final detail to an ECU auto loan is ensuring we have proof of your insurance coverage. Simply text a picture of your insurance declarations page to 1-865-505-7722. If you send a picture of your declarations page, that is all we need!

You may also take a picture of your ID card or insurance binder document, and we will follow up with your insurance agent. (ID cards are not sufficient proof of insurance)

If you do not have a copy of your declarations page, you may text the following insurance information:

  • Last 4 digits of your vehicle identification number (VIN)

  • Last four digits of the loan number

  • The name of your lending institution

  • The name and phone number of your insurance company

Woman taking a photo of an insurance document

How to Provide Home Insurance Proof to ECU

One final detail to an ECU home loan is ensuring we have proof of your insurance coverage. For mortgage and HELOC loans please email the property address (street address, city, state, ZIP) and send to MortgageServicing@educationcu.com.

Woman emailing document on a laptop

By Mail:

Insurance Service Center
PO Box 5700
Knoxville, TN 37928

Online:

www.mycoverageonline.com

By Email:

EducationCU@mycoverageonline.com

By Text:

1-865-505-7722

By QR Code:

With your mobile device, simply open your camera app and hold the phone up to the QR Code as if taking a picture of it and follow the steps on your device.