Vehicle Insurance

Vehicle Insurance

Evidence of Insurance

MACFCU requires that all collateralized loans be covered by insurance. You must provide proof of this coverage to protect the vehicle in the case of loss.

The following information is required:

1. Name of insured - this should match the name of the borrower(s) on the loan
2. Policy Period - the time period the policy is in effect
3. Policy Number
4. Coverages - the credit union requires comprehensive and collision coverages with a maximum deductible of $500
5. Lienholder - MAC Federal Credit Union must be listed as the lienholder on the policy. The lienholder address on the policy should be: P.O. Box 35025, Ft. Wainwright, AK 99703.
6. Collateral Description - The insured collateral description must match the description of the collateral for the loan

Update your Insurance

If you have received notice that we do not have insurance on file for your vehicle you can now update your insurance yourself online. Please click the link and follow the instructions on the website. Have your notice available as you will need it for the update process. myloaninsurance.com

Vehicle Storage

If you currently have a vehicle loan with MAC Federal Credit Union and are about to put the vehicle into storage for whatever reason, you must contact us! We require baseline insurance coverage on ALL vehicles with loans, regardless of status. If we determine that there is no insurance on the vehicle, YOU WILL BE AUTOMATICALLY CHARGED FOR COLLATERAL PROTECTION COVERAGE. Contact us today!

Geico Partnership

We are now partners with Geico. You may be able to get a discount if you use Geico as your insurance provider and you have a car loan with MAC. You can quickly get an insurance quote online by following the link below.