Collateral Protection Insurance (CPI)

Have you received a CPI notice? Here’s why.

Collateral Protection Insurance is used by lenders to protect their collateral in case of an accident. CPI will be applied to your loan if we haven’t received verification that you have obtained adequate comprehensive and collision insurance coverage on your vehicle.

Already have insurance for your vehicle?

Upload your insurance info here. Adequate proof of insurance includes:*

  • Insurance binder
  • Insurance declaration page

*Please see Insurance Requirements listed below.

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Need help finding insurance?

Get a free quote from Alaska USA Insurance Brokers.

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Insurance requirements

  • Policy Period (fixed expiration or continuous policy)
  • Policy Number
  • Alaska USA FCU listed as lien holder
  • Comprehensive and Collision Coverage, if applicable
  • Comprehensive and Collision deductible $1,000 or less, if applicable
  • Collateral Description and VIN

Frequently asked questions

Collateral Protection Insurance (CPI) is insurance the credit union has purchased due to a lack of insurance or inadequate coverage in the current insurance.

The Retail Installment Sale Contract (RISC) that was signed, authorizes the credit union to purchase insurance to protect its security interest in the collateral.

CPI is only designed to protect the credit union’s interest in the collateral and may not meet minimum state-specific insurance requirements.

The current CPI program premium is $95 + any applicable interest, which is added to your monthly payments.

Yes, when CPI is added it increases your monthly payments by $95 plus any applicable interest.

A refund can be requested by submitting acceptable proof of insurance for the duration of the lapse in coverage through the Add your info link above. If your vehicle did not have acceptable insurance coverage for the entire month, a refund cannot be issued, and the CPI premium must be paid. Refunds are processed and paid, if approved, within 7 to 10 business days.

If a document that contains all Insurance Requirements (see list above) is provided, it should take 7 to 10 business days for the account to update.

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Still have questions?

Any questions regarding CPI can be directed to Alaska USA's CPI team by phone at 1-800-992-2810 or 907-646-6998, or by email at SCCPI@alaskausa.org.

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