Protect Your Loan
Protection & Insurance
A low cost Rio Grande Credit Union loan can make your life a little easier, but what if your life hits a "speed bump?"
Our members are confident when they are fully protected. That's why we offer our members low-cost, full-protection options to safeguard you, your investment, and your credit. For your convenience, these options can easily be included in your monthly loan payment.
You May Be Paying Too Much for Car Insurance
You work hard for your money and even harder to keep your budget on track. So why spend too much on car insurance—maybe hundreds of dollars too much?
Rio Grande Credit Union members may qualify for discounts on car insurance through the TruStage® Auto Insurance Program. You could save big, and it can be easy to switch carriers—without losing any money.
TruStage offers a powerful mix of savings and popular, member-friendly benefits:
- Credit union member discount*
- Nationally recognized companies
- Friendly, 24/7 service—even on holidays
- Discounts for multiple vehicles, safety features, good driving and more*
- Mobile app for easy claims
Don’t wait to see how much you could save.
A Tradition of Strength
TruStage is part of a heritage of faithful service to credit union members spanning more than 80 years. Over 20 million people have selected TruStage for Accidental Death & Dismemberment, life, auto & home insurance and more.
TruStage® Auto & Home Insurance Program is made available through TruStage Insurance Agency, LLC and issued by leading insurance companies. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify. *Discounts are not available in all states and discounts vary by state. A consumer report from a consumer reporting agency and/or motor vehicle report will be obtained on all drivers listed on your policy where state laws and regulations allow. Please consult your policy for specific coverage and limitations. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union. © 2020 TruStage Insurance Agency AUT-2948356.1
Accidents happen. Get the coverage you need to protect your investment.
If your vehicle is declared a total loss after an accident or theft, it’s likely your insurance will fall short covering the full balance of your auto loan. This leaves you to pay off the remaining loan balance on a vehicle you can no longer drive—fortunately, we can help.
GAP Advantage can pay up to the remaining balance of your auto loan after an insurance payout, protecting you from a financial loss. Plus, GAP Advantage will provide a set allowance towards financing a replacement vehicle with us — getting you back on the road!
How it works
Without GAP Advantage
Your auto investment may not be fully covered
Covered by GAP Advantage
Your auto investment is covered, and additional funds are available to apply toward a replacement vehicle.
Plus funds toward a replacement vehicle
Your purchase of GAP Advantage is optional. Whether or not you purchase GAP Advantage will not affect your application for credit or the terms of any existing credit agreement you have with Rio Grande Credit Union. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under GAP Advantage. Carefully read the contract for a full explanation of the terms.
Peace of mind in an unpredictable world
Sometimes bad things happen to good people.
When an unexpected tragedy occurs, Payment Protection can pay off your financed loan in the event of death, or make payments on your behalf if you became disabled. In this day and age, the loss of a paycheck — even temporarily — could cause financial ruin. Payment Protection gives you the kind of security you need in our uncertain world.
Adding Payment Protection1 to your loan can:
- Eliminate all or part of your remaining loan balance
- Protect your credit rating as loan payment obligations are made on your behalf
- Prevent late fees
- Protect your family and your possessions
- Free-up extra cash when it’s needed most
Payment Protection is affordable and may cover both you and your co-borrower. And the cost is factored right into your loan payment, giving you one less thing to think about.
Death and disability is unpredictable and can happen to anyone, at any age. Fifty-six million Americans, or 1-in-5, live with disabilities.2
Are you one of them?
- Every two seconds, whether around the house, on the job, or just being in the wrong place at the wrong time, someone suffers a disabling injury.
- Payment Protection can help safeguard your investment by covering your loan if you or your co-borrower are unable to make payments.
Your purchase of Payment Protection is optional. Whether or not you purchase Protection will not affect your application for credit or the terms of any existing credit agreement you have with Rio Grande Credit Union. There are eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits under Payment Protection. Carefully read the contract for a full explanation of the terms. 1. Payment Protection may be available for personal credit cards, auto loans, personal consumer loans, and home equity loans. 2. "The Facts About Social Security's Disability Program." Social Security Administration, Publication Number 05-10570, January 2018, Web, March 2018.
Major Mechanical Protection
Vehicle repairs can be expensive — even the smallest repair can cost hundreds of dollars. While most new vehicles are covered by a manufacturer’s warranty, that coverage won’t last forever, and most used vehicles aren’t covered by any type of warranty.
Major Mechanical Protection (MMP) can help cover the expense of unexpected vehicle repairs and protect your budget from high out-of-pocket expenses. Even the most dependable vehicles can experience significant repair costs. By adding MMP, you can gain peace of mind knowing you’re protected for the road ahead!
MMP Coverage Features and Benefits:
- Affordable coverage that can usually be added to your loan, with low monthly payments
- Choose a term, mileage limit, and deductible that fits your budget
- Can be used at most licensed repair facilities
- Fully transferable to a new owner if you sell your car
- May increase resale value of your vehicle by helping you keep your vehicle in top condition
- Safety and convenience while on the road
- 24-hour roadside assistance
- Rental car reimbursement
- Trip interruption reimbursement
- Lost key, lockout, and emergency tire repair
The rising cost of repairs
With advanced electronics and computerized systems now standard in most vehicles, many repairs require specific replacement parts and a repair facility that has access to specialized tools and training — factors that drive up the final repair bill. The average cost of a single repair can easily cost more than your MMP plan!
*Figure 1 Sources:
Major Mechanical Protection is considered insurance coverage in some states. The purchase of MMP is voluntary and cannot be required as a condition of the loan. This website page only provides a general summary of available plan options. Be sure to read your specific contract/policy, as all benefits are subject to the terms and conditions of the contract/policy.