回报保护器® with a loan originated by State Farm Bank®
回报保护器1, included with every vehicle loan originated with State Farm Bank, may provide you with financial protection if your car is ever totaled or stolen and the insurance settlement amount does not cover the outstanding principal balance due on your loan.
它是如何工作的??
With 回报保护器, the difference between the amount your auto insurance pays on a total loss claim and the outstanding principal balance due on your loan is canceled, subject to certain restrictions.1
回报保护器 covers all insured vehicles that are financed by and collateral for a vehicle loan originated with State Farm Bank.
What happens if I have a total loss?
Step 2: The 回报保护器 Calculation
Upon receipt of the insurance settlement check, Loan Servicing requests from you a copy of the Claim Settlement Report in order to complete the 回报保护器 calculation. 请联系 866-207-9079 866-207-9079 有关详细信息,.
Step 3: The Settlement
After we receive the Claim Settlement Report, Loan Servicing then responds with a letter detailing the covered amount. Without 回报保护器, you would have owed the remaining unpaid principal balance.
1 回报保护器 is not an insurance product. 以条款为准, 条件, and restrictions of the 回报保护器 provision in your State Farm Bank originated Promissory Note and 安全 Agreement. Your loan must be in good standing in order for 回报保护器 to apply. If your vehicle is determined to be a total loss before the loan is paid off, we will cancel the difference between the insurance payout and the unpaid principal balance due on the loan. 请联系 866-207-9079 for additional details. 如果你是聋子, 听力困难, or do not use your voice to communicate, you may contact us via 711 or other relay services.
回报保护器 does not waive past due payment amounts; interest, fees and charges incurred prior to the total loss; or any refundable portion of the credit insurance premium. Certain exclusions apply to 回报保护器, including but not limited to, if your account is 30 days or more past due, pre-existing vehicle damage, or other amounts excluded from your vehicle insurance coverage.
Your loan originated by State Farm Bank is owned by one of the following State Farm companies: EMVLP, 有限责任公司, EMVLP二世, 有限责任公司, or EMVLP二世 有限责任公司 d/b/a EMVLP二世 P有限责任公司. For questions regarding your loan, please contact Loan Servicing at 866-207-9079866-207-9079. 如果你是聋子, 听力困难, or do not use your voice to communicate, you may contact us via 711 or other relay services.