Debt Protection Coverage
If a protected life event happens to you (and you’re a protected borrower or co-borrower on the loan), Serve Credit Union Debt Protection Coverage will cancel or waive your loan payments up to the contract maximums—helping to lessen your worries and your family’s worries, about paying loans during a time when your income may be reduced or lost and paying other household bills becomes challenging. We offer a number of options you could protect yourself against.
These events could include:
Loss of life, including those caused by acts of war
Disability, including those caused by acts of war
Family leave
Your purchase of Serve Credit Union Debt Protection Coverage is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of Serve Credit Union Debt Protection Coverage. You may cancel the protection at any time. If you cancel protection within 30 days you will receive a full refund of any fee paid.DP-1202789.1-0515-0617 © CUNA Mutual Group 2015, All Rights Reserved
Guaranteed Asset Coverage
Our GAP Program helps cover the remaining balance of your loan if you experience a total loss before it is paid off. Most insurance policies only cover the actual cash value of your asset. As a result, there can be a substantial “GAP” between your loan and the amount your insurance company pays to replace your vehicle.
Please inquire with a Serve Credit Union Loan Officer for more details.
Mechanical Breakdown Protection
The vast majority of costly mechanical and electrical failures occur after the factory warranty has expired. Avoid expensive repairs by protecting your vehicle with a Mechanical Breakdown Protection contract!
Please inquire with a Serve Credit Union Loan Officer for more details. National Claims Service phone number is (844) 307-1001.