Important information icon Act now to avoid higher costs

Maintaining your own insurance is the best way to protect both your property and your wallet. By submitting your current insurance information promptly, you can avoid unnecessary charges and ensure your coverage meets the terms of your loan.

If you receive a notice from State National requesting proof of insurance, act immediately

Failure to provide timely proof of insurance may result in automatic enrollment in a collateral protection insurance program - also known as force-placed insurance - which can be costly.

Not sure where to start with car insurance? We’ve got you.

Frequently asked questions


Yes! Just go to www.myloaninsurance.com/solaritycu and click the button under the "Don't have a reference ID or PIN?" option to upload your information.
Collateral protection insurance, also commonly referred to as force-placed insurance, is coverage that may be added to your loan if your required insurance - such as homeowners or auto insurance - has lapsed, been canceled or doesn’t meet the terms of your loan agreement.
Collateral protection insurance, also called force-placed insurance, typically provides limited coverage. It is designed to protect the lender's financial interest in the collateral, such as damage to a vehicle or home. However, it usually does not cover personal belongings, liability, or other protections included in a standard insurance policy. Because of this, it may not meet all of your personal coverage needs.
Collateral protection insurance, also known as force-placed insurance, is often more expensive than a policy you can obtain on your own. Because it is arranged by the lender and typically offers limited coverage, it may result in a higher monthly loan payment or added charges to your loan balance. To avoid these added costs, we recommend maintaining your own insurance and keeping your policy information current.

Yes, even if your vehicle is not being driven, you are still required to maintain insurance if it’s being used as collateral for a loan. Your loan agreement typically requires continuous insurance coverage to protect both your investment and the lender’s interest in the vehicle.

If your insurance lapses, even when the vehicle is parked or not in use, the lender may need to add force-placed insurance to your loan, which can be more expensive and offer limited coverage. If you're storing your vehicle long-term, talk to your insurance provider about options like comprehensive-only coverage, and be sure to keep the lender informed.

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