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Credit Insurance Program

Empowering Financial Security with Bay Country Finance

At Bay Country Finance, we’re committed to not only providing exceptional loan solutions but also maintaining and increasing your financial well-being. As part of our dedication to your prosperity, we work with Securian Financial to offer our customers a comprehensive range of optional insurance and ancillary products designed to help safeguard you and your loved ones against life’s uncertainties. Our customers are not required to purchase these products and doing so will not impact the approval or funding of your loan.

Securian Financial is the marketing name for Securian Financial Group, and its subsidiaries.
Minnesota Life Insurance Company and Securian Life Insurance Company are subsidiaries of Securian Financial Group.

Insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Property and casualty insurance products are issued by Securian Casualty Company, a New York authorized insurer. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues. Product availability and features may vary by state.

A Shield for Life’s Unexpected Twists

At Bay Country Finance, we believe in providing choices that empower you to protect your financial future according to your unique needs and circumstances. Optional insurance products offer you peace of mind and financial security when you need it the most. Read below for more information on credit life and disability insurance, credit involuntary unemployment insurance, and vehicle single interest insurance.

Credit Life and Disability Insurance: Protecting Your Family’s Future

Credit life insurance helps to provide invaluable support to your loved ones by settling the outstanding balance of your loan in the event of your passing during the coverage term, a crucial step in maintaining financial stability for your loved ones. Additionally, credit disability insurance ensures that your loan payments are covered for a specified period of time of incapacitation due to covered illnesses or injuries which alleviates financial burdens during challenging times. Exclusions apply for specific causes of death. Waiting periods may apply to credit disability insurance.

Credit Involuntary Unemployment Insurance: A Safety Net for Uncertain Times

We understand that unexpected job loss can pose significant financial challenges. That’s why Bay Country Finance offers involuntary unemployment insurance to help cover your loan payments during such challenging periods. We offer credit involuntary unemployment insurance, commonly referred to as IUI. This coverage provides a safety net by covering a specified number of loan payments in the event of a qualifying job loss, offering you stability and reassurance during transitional periods. A waiting period may apply.

Vehicle Single Interest Insurance: Protecting Your Investment

Your vehicle is more than just a mode of transportation; it’s an investment in your life and livelihood. Our vehicle single interest (VSI) insurance protects both you and your lender by covering the loan balance, up to a predetermined limit, in the event of damage to the vehicle or theft of the vehicle. With VSI insurance, you can drive with confidence, knowing that your investment is safeguarded against unforeseen circumstances.

Dedicated Support and Assistance

Bay Country Finance and Securian are committed to providing you with the insurance solutions you need for peace of mind. At Bay Country Finance, we prioritize your satisfaction and peace of mind above all else. Bay Country Finance is here to support you every step of the way, from selecting the right insurance products, including credit life insurance on car loans, to addressing any concerns or inquiries you may have. Whether you need assistance with policy management or have questions about claims processes, we’re here to provide personalized support tailored to your needs. Contact Bay Country Finance today for more information.

Exploring Your Options with Confidence

Your financial journey is unique, and at Bay Country Finance, we’re committed to empowering you with the tools and resources you need to thrive. Explore our diverse range of loan options today, confident that you’re backed by a trusted partner dedicated to your financial success. With Bay Country Finance, you can confidently take control of your financial future with the peace of mind that comes from knowing you are fully protected.

Total Damage Protection

Total Loss Vehicle Protection – Up to $2,500

Auto Deductible Reimbursement – Up to $500

Dent Defender – Up to two (2) Paintless Dent Repairs

Key Fob Reimbursement – Up to $750

Learn More

Total Loss Vehicle Protection:

If during the benefit term, the enrolled customer’s registered vehicle suffers a total loss due to an accident or is stolen and not recovered and declared a total loss, or recovered but declared a total loss, this benefit will pay a fixed amount towards the purchase of a replacement. The vehicle must be insured on the date of loss and declared a total loss by the customer’s primary auto carrier. The maximum limit is $2,500 per contract, not to exceed the ACV of the vehicle on the date of loss. The benefit will be paid in the form of a credit & must be used within 90 days of issuance, or if the replacement vehicle has to be ordered, the 90 day limit is extended to 180 days. The enrolled customer must own and insure the registered vehicle.

Auto Deductible Reimbursement:

  • Pays up to five hundred dollars ($500) per Loss (limit of two losses per year) when a Loss is filed and paid by the Auto Insurance Company for the Covered Auto the Member owns or leases evidenced by the title, registration or loan document, AND insured under an Auto Insurance Policy designating the Member as the Named Insured.
  • Covered Auto refers to the Specific Vehicle Identification Number (VIN) for which the Member was provided the Auto Deductible Reimbursement Benefit.
  • Loss means an event for which the Auto Insurance Company has approved and paid a collision or comprehensive claim which exceeds the Auto Insurance Policy deductible for the Covered Auto.
  • Coverage is effective upon date of enrollment and will continue for two (2) years.

If the Member suffers a Loss during the benefit period which is covered by the Member’s Auto Insurance Policy, the Member may be entitled to reimbursement of the Auto Insurance Policy deductible amount up to a maximum of five hundred dollars ($500) per Loss. To be eligible for reimbursement the Member must own or lease and insure the Covered Auto under an Auto Insurance Policy designating the Member as the Auto Policy Named Insured.

The Auto Deductible Reimbursement Benefit Does Not Apply If:

  1. the Member does not have an in force Auto Insurance Policy on the Member’s Covered Auto at the time of a Loss;
  2. the claim under the Member’s Auto Insurance Policy is not covered or has been denied by the Member’s Auto Insurance Company;
  3. the Loss does not exceed the in force Auto Insurance Policy deductible;
  4. the Member’s Auto Insurance Company has waived the Auto Insurance Policy deductible under the Auto Insurance Policy;
  5. the Loss is for a Recreational Vehicle (RV), Trailer, Motor Home, All Terrain Vehicle (ATV), Motorcycle, Boat, Personal Water Craft (PWC) or any other vehicle that does not fall under the definition of a Covered Auto;
  6. the auto is used for commercial purposes or hire, or the auto is a commercial vehicle as defined by the manufacturer;
  7. the Loss is other than a Total Loss and the Member does not repair the auto.

How to file a claim:

Call the Claims Administrator at 1-877-296-4892 OR go to www.assuranceplus.com/claims to request a claim form. Notice of the Loss must have been provided to the Claims Administrator within 90 days of the date of Loss, but in no event later than 1 year from date of Loss. To process a claim the Claims Administrator must be sent a completed and signed claim form, along with the following required documents, within 180 days of the date of Loss, but in no event later than 1 year from date of Loss.

  1. A copy of the Automobile Insurance Policy Declarations page in effect on the date of Loss.
  2. A copy of the Covered Auto title, registration or loan/lease documents (if applicable) in effect on the date of Loss.
  3. A copy of the estimate of repairs or the total Loss statement.
  4. A copy of the claim payment check and/or settlement letter from the Auto Insurance Company showing the amount that was paid and that the deductible was satisfied.
  5. A copy of the check, credit card charge, debit card charge or cash receipt showing the deductible was paid.
  6. Any other information that may reasonably be requested in order to process your claim.

Dent Defender:

The benefit provides You, the Member up to two (2) Paintless Dent Repairs within a twelve (12) month period on any panel of a vehicle, performed by the Administrator’s Dent Defender representatives. Panel repairs are subject to accessibility (i.e. an area within 1" of a door edge is not accessible). If a required repair extends over (2) body panels (this will be treated as (2) claims). Paintless Dent Repairs do not cover sharp dings, dents, or creases where- by the metal is too stretched or has visible paint damage.

Key Fob Reimbursement:

This benefit will reimburse the Member for a Loss to the Member’s Covered Auto keys equal to the lesser of the actual replacement cost of the lost or stolen keys, or $750 per Loss, regardless of the number of keys lost or stolen.

This summary is a brief overview of the program and is not to be considered a full disclosure of policy terms. Please refer to the Terms and Conditions for complete forms, conditions, limitations, definitions, and exclusions.

** Program not available to residents of New York or Washington**

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