Helpful tips when filing an insurance claim

At Centra Credit Union, we understand that experiencing damage or loss to a vehicle, home, or other property can be incredibly stressful and emotional. Whether it’s due to an accident, natural disaster, or other unforeseen events, these moments can leave you feeling overwhelmed. Rest assured that you’re not alone, and we’re here to support you every step of the way.

If you’ve experienced damage or loss to a vehicle, home, or other insured asset that has Centra Credit Union as the lienholder, it’s important to follow the proper steps to ensure your insurance claim is processed smoothly. Our goal is to make this process as simple as possible during a difficult time.

Report the damage to your insurance provider

The first step is to contact your insurance provider as soon as possible after damage or loss occurs. It’s important to begin this process quickly so your provider can start working to help you recover.

Notify Centra of the claim

Once you’ve worked with your insurance provider, please reach out to us as soon as possible. Notifying Centra promptly helps prevent any delays in processing and ensures we’re working in your best interest throughout the claims process. We’re here to help make this part easier.

When notifying Centra, please provide:

• A copy of the insurance claim
• An estimate or invoice of the cost of damages
• The name and contact information of your insurance provider or adjuster
• Your loan or mortgage account number
• Your current contact information

You can contact us at 800-232-3642 or visit your nearest Ubicación de Centra to speak with a Team Member. We’re ready to listen, help, and offer guidance however we can.

Understand the payout process

If there’s a payout from your insurance company, the check should be made payable to both you and Centra Credit Union. This is because Centra is listed as the lienholder on your account until the loan is paid off.

You’ll then need to bring the check into any Centra location to be endorsed. Once the check has been endorsed, the funds will be deposited into the appropriate account with a temporary hold in place. The hold will be lifted once Centra receives the final receipt of repairs.

Depending on the situation, the funds may be payable to either you or to the company that completed the repairs. Communication is key, and we encourage you to keep in touch with us along the way should any additional information or documentation be needed. We’re committed to being responsive, understanding, and helpful throughout the process.

Please note that insurance claims for mortgage loans may require specific documentation depending on the mortgage loan type. Please contact our mortgage servicing department at 812-314-0334 or email mortgageservicing@centra.org. Include your name, loan number, information regarding the insurance claim, and the check amount. A dedicated Team Member will work closely with you to make sure all necessary steps are taken before the payout is completed.