Insurance & Warranties

NAE Federal Credit Union can offer you great insurance products on your new loan for way less than the dealer!

 

Credit Life/Credit Disability Insurance

We offer Credit Life Insurance and Credit Disability Insurance through Minnesota Life. Instead of charging you a one-time premium (that you have to pay interest on throughout the term of the loan), NAE bills you monthly for the insurances you choose by adding the cost directly onto your loan account every month. Insurance rates are lower than they have ever been. You also save with NAE Federal Credit Union if you elect to add life and/or disability insurance to your loan. For choosing these products, you may be eligible for a reduction in your loan rate. Contact a NAE loan officer for further details. Age restrictions apply.

 

GAP (Guaranteed Asset Protection) Insurance

What is GAP insurance? GAP insurance helps cover the difference between the actual cash value of your vehicle (the amount your insurance company will give you if the vehicle is considered a "total loss") and the outstanding loan balance on your vehicle. For example, if you finance $15,000 on your vehicle for 60 months, your vehicle could depreciate more quickly than the loan balance decreases. If this happens, you will be "upside down" on your loan and owe more than your vehicle is worth. If your car is wrecked and declared a total loss, not only will you need to purchase a new vehicle, but you could still owe a lot of money on the old one! GAP insurance helps by significantly decreasing or even eliminating any residual balance! For a one-time charge, you can protect your loan.

Plus, Visual GAP, NAE Federal Credit Union's provider, allows us to add GAP insurance to your loan after the fact. GAP insurance can be purchased any time after loan origination as long as you have not experienced a total loss due to collision or theft. However, GAP is not retroactive and goes into effect the day the GAP is purchased and covers the remaining term and balance of your loan. Speak with a NAE Loan Officer for more information regarding GAP insurance.

 

Extended Warranty Coverage

NAE Federal Credit Union can also offer you Mechanical Breakdown Insurance through our partnership with Vision Warranty Corporation. Vision has been in the warranty business for 23 years and provides factory type coverage on vehicles 11 years old and newer. Vision offers 3 levels of coverage to choose from and the option to add 12, 18, 24, 36, 48, or 60 months of additional coverage to your vehicle at significant savings compared to what a dealership may charge for the same level of service. Call NAE today and let us work up a quote for you.

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