I received a letter regarding insurance and adding it to my monthly loan payment, what is this?

All vehicle loans held with us are required to have insurance coverage with a deductible of $1,000 or less for comprehensive and collision coverage and must list Credit Union of Colorado as the lien holder. If you received a letter about force-placed insurance, also known as Creditor Placed Insurance, we will simply need insurance documentation on file showing that you have insurance coverage on your vehicle. Please contact our Member Solutions Department at 1-800-444-4816 for assistance with this.