Vehicle Loans
CPI Insurance
Insurance Verification & Collateral Protection
When you take out a loan for collateral your loan agreement requires you to maintain insurance coverage for the life of the loan.
Why Blue Federal Credit Union Verifies Insurance
When you take out a loan for collateral — such as a vehicle, home, boat, or RV — your loan agreement requires you to maintain insurance coverage for the life of the loan.
Insurance verification ensures:
- Your collateral is protected
- Your loan stays in good standing
- Blue has up-to-date coverage information
If your insurance information is missing, outdated, or incomplete, we may ask you to verify it through our secure insurance verification portal. In most cases, this takes less than five minutes.
What is Collateral Protection Insurance (CPI)?
Collateral Protection Insurance (CPI) — also known as Lender-Placed Insurance (LPI) — is insurance that may be applied only if required coverage is not verified.
Important things to know about CPI:
It only protects the collateral, not you.
It does not include liability coverage.
It is more expensive than standard insurance.
It may cause a noticeable increase in your loan payment.
CPI is used as a last resort to protect the loan — not as a replacement for your own insurance.
How to Remove or Avoid CPI
Good news — removing CPI is simple:
Make sure your insurance meets policy requirements
Submit proof through the secure insurance portal
Once verified:
CPI is removed (if applied)
Your loan payment is corrected
You’ll receive confirmation by mail
If additional information is needed, we’ll reach out directly.
Proof of Insurance
- Insured Name
- Vehicle Description & VIN
- Comprehensive & Collision deductibles not to exceed $1,000
- Policy Number
- Policy Period
- Blue Federal Credit Union listed as Lienholder
Common Reasons You May Have Received a Notice
You may receive an insurance verification notice for a variety of different reasons
New Loan or Refinance
If you recently opened or refinanced a loan, we may not yet have received proof of insurance. Submitting your coverage clears this right away.
Policy Cancellation
If your insurance company notified us of a cancellation — even if you replaced it — we’ll need your updated policy details.
Lienholder Not Listed
Blue Federal Credit Union must be listed as the lienholder on your policy so we receive updates. You can check this on your insurance declarations page.
Policy Changes
If you adjusted coverage or deductibles, your policy may no longer meet loan requirements. Reviewing your loan agreement can help identify any gaps.
Policy Expired
Some policies do not renew automatically. If your policy expired, renewing it and submitting proof resolves the issue.
Routine Insurance Re-Audit
Even with continuous coverage, Blue may request re-verification every three years to ensure records remain current.
FAQs
If you received a letter or email about your insurance coverage you may have questions. Here are some common questions and answers about CPI.
Why did I receive a letter telling me to verify my insurance?
We need to confirm that your collateral is properly insured, as required by your loan agreement.ext
How long does verification take?
Submitting your information takes about 5 minutes. Verification usually follows shortly after.
How do I know if I have the right coverage?
Your loan agreement lists coverage requirements. If you don’t have a copy, our team is happy to help.
Why was CPI/LPI added to my Loan?
Collateral Protection Insurance (CPI) may be added if we don’t have current proof of the required insurance coverage on your loan. If coverage isn’t verified after multiple reminders, CPI helps ensure the collateral remains protected.
Why did my loan payment increase?
You may notice CPI has been applied if there is a sudden increase in your monthly loan payment. If this happens, the solution is quick and easy. Simply complete the secure insurance verification process to provide your current policy information. Once your coverage is confirmed and meets loan requirements, CPI will be removed and your loan payment adjusted accordingly.
How do I submit my declaration page?
You may submit your insurance declarations page via:
- Online: MyLoanInsurance.com/bluefcu
- Email: bluefcu@myloaninsurance.com
- Fax: 1-877-234-3930
- Mail:
Blue Federal Credit Union
Insurance Tracking Center
PO Box 924517
Fort Worth, TX 76124
Who do I contact about a Total Loss on my Vehicle?
Please Email: Our Total Loss Insurance Department
We’re Here to Help
Insurance verification is a normal part of protecting your loan — and we’re here to make it easy.
If you have questions or need assistance, please call State National 1-877-253-0792 for 24/7 assistance.
Or email Blue Federal Credit Union directly. We’re always happy to help you stay protected and confident in your financial journey.