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If you’ve been in an accident or received notice about vehicle insurance coverage, we know it can be a stressful and confusing time. At Credit Union of Texas, we’re here to guide you through every step of the process. Whether you're dealing with a total loss, submitting a GAP claim, or have questions about Collateral Protection Insurance (CPI), this page provides answers to our most frequently asked insurance questions so you can feel confident moving forward.
Notify your insurance carrier of the loss. Then, provide CUTX with authorization to speak with your insurance adjuster. You’ll need to share:
Claim number
Adjuster’s name
Adjuster’s phone number
You can submit this info by calling us or using our live chat.
Yes. You must continue making loan payments until the claims process is complete and your loan is paid in full.
CUTX will file your GAP claim within two business days of receiving your primary insurance settlement. For specific details, refer to your GAP agreement.
GAP claims typically take 3–4 weeks. Watch your email for any additional documentation requests.
Only if the total loss occurs within 60 days of your loan funding date. After 60 days, GAP contracts are non-refundable.
Yes! We’ll request cancellation on your behalf.
If your loan is still open, the refund is applied to your loan balance.
If your loan is paid off, it will be deposited into your Share Savings account.
Please allow 6–8 weeks for processing.
Have you been billed for CPI or have questions about it? Start here.
CPI is a policy purchased by CUTX to protect our interest in your vehicle if you don’t maintain full insurance coverage.
CPI includes collision and comprehensive coverage only. It does not include:
Liability
Personal injury or third-party damage
Towing, storage, or rental
Personal items inside the vehicle
No. You must carry full coverage auto insurance that lists Credit Union of Texas as the lienholder.
CPI may be added to your loan if:
You don’t have both comprehensive and collision coverage
Your policy lapsed or was canceled
CUTX did not receive proof of full coverage with us listed as lienholder
Full coverage must be maintained throughout the loan term
Deductibles must be $1,000 or less
CUTX must be listed as lienholder
CUTX Lienholder Address:
P.O. Box 690588
San Antonio, TX 78269
Yes—if you provide proof that full coverage was maintained without a lapse during the billed period.
Unfortunately, no. CPI premiums are billed in full-month increments—even for a single day lapse.
Send one of the following:
Policy Declarations Page (showing active full coverage)
Letter of Experience from your insurance provider
Renewal Notice
Online: imcovered.com/cutx (You'll need your unique ID from your notification letter.)
Email: CUTX@imcovered.com
Fax: 866-830-7922
Phone: 866-382-0069
Mail: (Use the address provided in your CPI letter)
Please allow up to 2 weeks. For status updates, call 866-382-0069.
Total Loss Claim – Frequently Asked Questions
I was involved in a motor vehicle accident. What are my next steps?
Once you notify your insurance carrier of the loss, please provide Credit Union of Texas (CUTX) with authorization to communicate with your insurance adjuster. You’ll also need to share the claim number, adjuster’s name, and phone number. You may call us or use our live chat feature to submit this information.
Am I still required to make loan payments after a total loss?
Yes. Loan payments must continue until the claims process is fully completed and the loan is paid in full.
I have GAP coverage. What do I need to do?
CUTX’s insurance specialists will file your GAP claim within two business days after receiving the Primary Insurance Settlement. For specific contract terms or questions, please refer to your GAP agreement.
How long does the GAP claim process take?
GAP claims are typically processed within 3 to 4 weeks. Delays can occur if additional documentation is required. Please monitor your email for any requests.
If my loan was paid in full by my insurance company, am I eligible for a GAP refund?
GAP contracts are only fully refundable if the loss occurs within 60 days of the loan funding date. After 60 days, the contract is non-refundable.
I purchased vehicle service contracts. Am I eligible for a refund?
Yes. Our team will request cancellation of service contracts on your behalf. Refunds typically take 6–8 weeks to process.
Where should my insurance company send the settlement check?
Standard Mail:
Credit Union of Texas
P.O. Box 7000
Allen, TX 75013
Collateral Protection Insurance (CPI) – Frequently Asked Questions
What is Collateral Protection Insurance (CPI)?
CPI is an insurance policy purchased by CUTX to protect our financial interest in a vehicle or collateral if the borrower fails to maintain adequate insurance coverage.
What does CPI cover?
CPI provides collision and comprehensive coverage only. It does not include:
Does CPI replace traditional auto insurance?
No. CPI is not a substitute for legally required auto insurance. Borrowers must maintain full coverage that includes liability and other protections.
Why am I being charged for CPI?
You may be billed for CPI if:
What are the insurance requirements for my loan?
Your vehicle must be insured against all risks of sudden and accidental loss throughout the loan term.
What is CUTX’s lienholder address?
Credit Union of Texas
P.O. Box 690588
San Antonio, TX 78269
Can CPI charges be refunded?
Yes. CPI charges are fully refundable only if proof is provided that there was no lapse in full coverage during the period in question.
I only had a 1-day lapse. Can I get a prorated refund?
No. Even a one-day lapse results in a full month’s CPI premium charge and is not eligible for a prorated refund.
What documentation is required for a refund review?
Accepted documents include:
Note: Insurance ID cards are not accepted unless they clearly show coverage types and limits.
Where do I send CPI documentation for review?
How long does a CPI refund take to process?
Please allow up to two weeks for refund processing. For updates, contact the insurance tracking team at 866-382-0069.
Why was my CPI refund applied to my loan instead of my account?
If your loan was still active at the time of refund, the funds are applied to the loan balance. If the loan is paid in full, the refund is posted to your Share Savings account.
My loan was paid in full before I noticed CPI charges. Can I still request a refund?
Yes. You may still submit supporting documentation to request a refund review.
I’m not driving my vehicle. Can I cancel insurance without being charged CPI?
No. Full coverage must be maintained for the entire loan term.
Exception: Service members may qualify for special consideration with proper documentation.
I was involved in an accident and don’t have traditional insurance. What do I do?
If you have CPI or no insurance at the time of the accident, please contact the Collateral Protection Claims Team at 800-550-9069 to initiate a claim.