I have my own insurance coverage, why am I notified that Cabrillo will force place insurance on my vehicle?

One of our requirements is that you provide adequate insurance coverage on the property securing your loan.  This insurance must at least provide comprehensive and collision coverage.  The policy must contain a loss payable clause endorsement naming the lender, Cabrillo Credit Union as lienholder.  This insurance must remain in force for the entire term of the loan. If you change insurance provider, send us a new insurance binder showing Cabrillo Credit Union as the loss payee.

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