Loan Protection

A factory warranty for your vehicle may not be enough. Many major repairs occur after the manufacturer’s warranty expires, including engine, transmission, suspension, and electrical components. Purchasing extended coverage can help cover these expenses.

  • The cost of this coverage may be included in your credit union auto loan for just pennies per day

  • Named Component Coverage with Wear & Tear for new cars and eligible pre-owned cars

  • Low deductible

  • Towing

  • Car rental

  • Nationwide protection

  • Convenient access to services via toll-free number

  • Travel Expenses Coverage

  • Roadside Assistance

  • Accidental Loss Refund – optional coverage to protect against collision or acts of God only

  • KeyGuard – optional coverage for key/transponder replacement

  • Business Use – coverage for eligible business uses (surcharge applies)

In the unfortunate event that your car is stolen or considered a total loss after an accident, your primary auto insurance policy will generally cover the cash value of the vehicle only, even if you owe more than that to your lender. This difference, or gap, could cost you thousands of dollars in out-of-pocket expenses. UL Federal Credit Union has joined with IWS to offer you Guaranteed Asset Protection (GAP).¹ GAP pays the difference between your outstanding scheduled principal balance and the vehicle’s actual cash value on your auto loan or lease in the event of total loss or theft. GAP is available for a nominal cost and may be purchased anytime during the loan term.

Credit insurance may make your loan payments when you can’t because of unexpected illness, injury, or death. Insure your loan payments today so you can worry a little less about tomorrow. Choose Credit Life, Credit Disability, or both!²

  • Simple to apply

  • Credit Life – Pays the remaining loan balance in the event of your death

  • Credit Disability – Makes monthly loan payments if you become sick, get injured, or become disabled and are unable to work

  • Coverage that fits your loan

  • Won’t affect your loan approval

  • Single or joint coverage options

  • Sign up for credit insurance at your loan closing or anytime you like

  • No physical required