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Coverage Questions

What coverage is provided in each type of policy?

Your insurance policy gives the most complete and accurate description of what is covered, for what amounts and under what conditions. Coverage varies by type of policy, by insurer, by state, and by the coverage selections you made when you purchased the policy, so it is important to understand your policy at the time of purchase. The DCU Insurance staff would be happy to answer your questions about coverages.

At the DCU web site, StreetWise provides easy-to-understand, general explanations of the coverages provided under most automobile, homeowners, renters and umbrella policies.

What type and how much coverage do I need?

This is a very personal decision which, after satisfying any legal, regulatory or lender requirements, comes down to your tolerance for risk. To protect your financial well-being, you must balance the cost of insurance against what's at risk if you don't buy it, then decide how much of a loss you could absorb personally. Licensed DCU Insurance personnel can advise you about coverage, but in the end, you must make the decision.

What assets or possessions do you want to protect? What is their current value, and what would it cost to replace them? What would you need to do if your home or car were unusable for a period of time? How much could you afford to pay as a deductible (higher deductibles can often save you money on insurance premiums)?

An aspect of personal insurance often overlooked is liability coverage. If you are responsible for injury or financial loss to someone else, this is the coverage that is used to compensate them and/or to defend you against legal claims. Without sufficient liability coverage, your assets and even your future income stream could be at risk. Both auto and homeowners policies have a liability component. Supplemental liability coverage can be purchased in a personal umbrella policy.

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DCU Insurance (DCU Financial Insurance Services, LLC) is an affiliate of Digital Federal Credit Union (DCU). Business conducted with DCU Insurance is separate and distinct from any business conducted with the credit union.

Remember that any insurance required as a condition of the extension of credit by DCU need not be purchased from DCU Insurance but may, without affecting the approval of the application for credit, be purchased from an agent or insurance company of the member's choice.

Insurance products are not deposits of DCU and are not protected by the NCUA. They are not an obligation of or guaranteed by the credit union and may be subject to risk.

If you have any concerns or complaints regarding this relationship, you may contact the MA Office of Consumer Affairs, or the insurance department of your state. For information on how to contact them, you may call us.