Your vehicle has been declared a total loss. Now what? Whether the cause was an accident, theft, fire, flooding, severe weather, or something else, you may be wondering what happens next — especially if you still have a CEFCU Vehicle Loan.
CEFCU is here to help make the process easier to understand and guide you through the next steps:
Step One
Let CEFCU work with your insurance company.
Authorize CEFCU to communicate directly with your insurance company about your vehicle and Loan. You can:
- Call the CEFCU Lending Department at 1.800.858.3400.
- Visit your nearest CEFCU Member Center.
- Email insuranceclaims@cefcu.com. In the email, include your name and vehicle identification number (VIN).
Step Two
Have your insurance company provide the required information.
Ask your insurance company to email insuranceclaims@cefcu.com with a Settlement Breakdown and Vehicle Valuation Report. CEFCU needs these documents to complete the Letter of Guarantee.
Step Three
Have GAP protection? CEFCU will file the claim for you.
If you have GAP protection on your Vehicle Loan, CEFCU will submit the GAP claim for you after we receive the insurance payment and other required documentation.
Once the claim has been submitted, be sure to stay in contact with the GAP company and check on the status of your claim. They may request additional information or documentation from you.
Total Loss FAQs
What is a Letter of Guarantee?
A Letter of Guarantee confirms that CEFCU will release the vehicle title to your insurance company in exchange for the agreed-upon settlement amount.
What happens to my vehicle’s extended warranty?
CEFCU will request cancellation of any eligible extended warranties purchased for the vehicle. If a refund is issued to CEFCU, it will be applied to your remaining loan balance.
Can I keep my vehicle after it has been declared a total loss?
CEFCU may allow you to keep the vehicle if you owe $1,000 or less after the primary insurance payment has been applied.
Do I still need to make my Loan payments?
Yes. You are still responsible for making your regular Loan payments until CEFCU receives the primary insurance payment. If a balance remains after all applicable funds have been applied to the Loan, you are responsible for paying the remaining balance.
CEFCU is here to help
A total loss can be a lot to handle, but you don’t have to navigate the process alone. If you have questions or need assistance with your total loss, contact CEFCU’s Total Loss area by email at insuranceclaims@cefcu.com or by phone at 1.800.633.7077, ext. 33821.
We are here to help you through the next steps.
