Can You Get Auto Insurance Through Your Credit Union?
Last Updated on September 5, 2020
Credit unions offer several advantages to clients. But is car insurance one of those advantages? Can you get car insurance through your credit union?
Some credit unions offer car insurance, while other credit unions do not. Some credit unions have partnered with car insurance companies to offer preferred rates to customers, while others offer car insurance through affiliates.
Today, we’re explaining everything you need to know about credit unions and car insurance, including whether or not major providers like Navy Federal and TruStage offer credit union car insurance.
Some Credit Unions Offer Car Insurance
Most credit unions do not directly offer car insurance. However, some credit unions have partnered with insurance companies to offer discounted rates to credit union customers.
Navy Federal Credit Union is one of America’s largest and best-known credit unions. The company has a partnership with GEICO. As a Navy Federal Credit Union customer, you can get a discount rate on GEICO auto insurance. GEICO is already one of the cheaper car insurance companies in the United States, and Navy Federal customers can get even lower rates.
Many other major credit unions have similar deals. Larger, nationwide credit unions may have partnerships with nationwide car insurance companies. Smaller, local credit unions might have partnerships with regional insurance companies.
Many smaller insurance companies partner with TruStage, a third party company that connects credit union customers with insurance discounts.
TruStage has partnered with Liberty Mutual Insurance to provide customers with better rates through the TruStage Auto & Home Insurance Program. As a credit union customer, you can get a good deal on car insurance by taking advantage of the TruStage Auto & Home Insurance Program.
Not all credit unions use TruStage, but many small and large credit unions across America are affiliated with TruStage.
Talk to your credit union to find available car insurance discounts or partnerships.
How Much Can You Save with Credit Union Car Insurance?
If your credit union has a partnership with a car insurance company, then you could save anywhere from 5% to 30% on car insurance.
However, you’re not guaranteed to save money by taking advantage of credit union car insurance. Some customers find they received better rates through other providers. Just like with any insurance, it’s important to compare rates from multiple providers before locking in.
How Does TruStage Car Insurance Work?
If you’re looking for credit union car insurance, you’re often dealing with TruStage. TruStage car insurance works similarly to ordinary car insurance. In fact, TruStage doesn’t actually provide car insurance, and TruStage is not technically an insurance company; instead, TruStage is a middleman that connects credit union customers with insurance policies.
Today, TruStage partners with Liberty Mutual to provide car insurance. That means when you get car insurance through TruStage, you’re getting a Liberty Mutual policy.
Liberty Mutual is one of America’s largest and best-known insurance companies. They tend to be slightly better-rated than other nationwide competitors, although they also tend to be slightly more expensive (compared to discount options like GEICO).
In the 2020 car insurance rankings, Liberty Mutual placed 5th among large insurers for purchase experience and customer satisfaction. With a score of 853, Liberty Mutual was just behind Allstate (858), State Farm (860), Nationwide (862), and GEICO (867).
Compare Credit Union Car Insurance Quotes Today
All car insurance companies offer free quotes. Your credit union will offer free car insurance quotes, and a third-party provider like TruStage also offers free quotes.
Sometimes, your credit union will be the best deal in your area. Your credit union’s car insurance rates will undercut other providers.
Or, your credit union car insurance may not be the cheapest deal. Sometimes, it may not be the best deal even with a 10 to 15% discount. A conventional insurance provider may still undercut your credit union’s preferred rates.
For all of these reasons, it’s important to compare quotes today.
Other Car Insurance Discounts for Credit Union Members
If you’re a member of a credit union, you can take advantage of other car insurance discounts and deals. Anyone – including people who aren’t members of a credit union – can take advantage of these discounts. As a credit union member, you can get discounted car insurance and additional discounts.
Multi-Car Discounts: Do you own multiple vehicles? Adding multiple vehicles on a single policy is generally cheaper than having individual policies.
Bundling Discounts: Credit union members may need home insurance, renters insurance, life insurance, and auto insurance. By bundling two or more policies with a single insurer, you can get discounted rates.
Good Student Discount: High school or college students can get auto insurance discounts by maintaining good grades. If you or your parents are a member of a credit union and you have good grades, then you may be eligible for discounted rates on car insurance.
Safe Driving Discount: If you have not made a claim in the last 3 to 5 years, then you may qualify for a safe driving discount or claims-free discount. Insurers reward drivers with a safe driving record because they’re less risky to insure.
Vehicle Safety Features Discount: If your vehicle has safety features like anti-lock brakes or passenger airbags, then you may qualify for discounted car insurance rates. Safer vehicles are less costly for insurers because they limit injuries in an accident.
Other Credit Union Advantages for Car Owners
Want to save money on your next auto loan? Your credit union may be able to help.
Many credit unions offer auto loan financing. Instead of using your dealership’s costly financing company or turning to a third party, you may be able to access preferred rates through your credit union.
Some credit unions also offer discounts on car maintenance. If you use a maintenance shop in the credit union’s network, then you may pay cheaper rates.
Alliant Credit Union, for example, lets members save an average of 25% on maintenance and repairs from a national network of trusted service shops. If you use one of the thousands of trusted service shops nationwide, then you pay lower rates for maintenance and repairs. Other credit unions have similar partnerships.
Talk to your credit union to discover any unique car-related deals or discounts.
Final Word on Getting Insurance Through Your Credit Union
Compare car insurance quotes today to find the best deal. In many cases, your credit union has partnered with a provider like TruStage to offer discounted insurance deals.
Most credit unions do not directly provide car insurance. Instead, most credit unions partner with a car insurance company to offer discounted rates to customers. TruStage partners with Liberty Mutual, for example, while Navy Federal partners with GEICO.
Request a quote for car insurance online today. Use your credit union’s website to request a quote online. Or, contact your credit union to speak with an insurance specialist. Then, compare credit union car insurance rates with other providers in your area.