Insurance Frequently Asked Questions

Your questions, answered

We’ve collected some of the most frequently asked questions about our insurance products and services, and grouped them by topic to make it easier for you to access the information you need to make informed financial decisions.

 

Find FAQs by topic:
General Questions | Auto / Other Vehicles | Homeowners | Natural DisasterMedicare Supplement | Commercial / Business | Back to all FAQs

 

GENERAL QUESTIONS

  • Do you pull my credit report to provide my insurance coverage quote?
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    We do a soft credit pull that collects information without impacting your credit score. We then use information like your payment history to provide a quote.

  • Does my credit score affect my insurance premium?
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    Yes, but insurance premiums are affected by a number of factors, including credit score, age, claims history and others.

  • How long does it take to get my insurance quote?
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    RBFCU Insurance Agency will do its best to provide a same-day quote if all required information is provided.

  • What is an insurance score?
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    An insurance score is a score based on your credit history which shows your financial background and creditworthiness.

 

AUTO / OTHER VEHICLES

  • Am I required to get insurance on my boat?
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    Yes, full coverage insurance is required on all vehicles, including boats. For an insurance quote from our affiliate, RBFCU Insurance Agency, please visit our Auto Insurance page.

  • Am I required to get insurance on my motorcycle?
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    Yes, full coverage insurance is required on all vehicles, including motorcycles. To request a quote from RBFCU Insurance Agency, please visit our Auto Insurance page.

  • Am I required to get insurance on my RV?
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    Yes, full coverage insurance is required on all vehicles, including RVs. For an insurance quote from our affiliate, RBFCU Insurance Agency, please visit our Auto Insurance page.

  • Do I need commercial auto insurance?
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    If a vehicle is used in tasks related to your business, a commercial policy may be necessary.

  • Do you offer Roadside Assistance?
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    Yes. Roadside Assistance is included with platinum and gold Mechanical Repair Coverage. For more information about Mechanical Repair Coverage and the Roadside Assistance benefit, click here.

  • Does my auto insurance cover me when I rent a car?
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    If you carry physical damage coverage on any of your own vehicles, you may have coverage that extends to your rental car. If you only carry liability coverage on your personal auto policy, there would be no physical damage coverage provided to a rental car. You will need to check your vehicle’s insurance policy to see what your coverage is.

  • How do I determine if I need full coverage or liability coverage on my vehicle?
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    If your vehicle is financed, the finance company will require what is known as full coverage. This includes bodily injury, property damage, collision and comprehensive damage on your vehicle.

  • How do I submit an auto insurance claim?
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    Call your auto insurance carrier. This number is typically found on your auto insurance ID card. RBFCU Insurance Agency’s policy declaration page will have your insurance company’s claim number, you will be asked to supply information and documentation about the accident.

    If you have any future concerns, contact RBFCU Insurance Agency at 1-888-564-2999. Our business hours are Monday – Friday from 9 a.m. – 5 p.m.

  • What auto insurance coverage is required in Texas?
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    The current minimum liability limits are $30,000 for each injured person, up to a total of $60,000 per accident, and $25,000 for property damage per accident. This basic coverage is called 30/60/25 coverage. RBFCU Insurance Agency finds this coverage to be inadequate in the event of an accident or injury resulting from an accident.

  • What happens when I receive a check from insurance?
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    RBFCU will most likely be listed as a payee on your insurance check because we have a financial interest in the property. Depending on the extent of damage to your home, we may release the funds in partial payments as the repairs are completed. Some repairs may require a licensed contractor. Please contact Mortgage Servicing at 210-945-3300, select option 3, then option 2, then option 1. We will provide instructions on sending the insurance adjusters report to us, negotiating the insurance check, and the repair process.

    If your auto is financed with RBFCU, please contact RBFCU Consumer Lending at 210-945-3300, select option 3, then option 3, then option 1, then option 4.

  • What information will I need to provide for an auto insurance quote?
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    The following personal information is needed:

    • Names of the people to be insured
    • Date(s) of birth
    • Social Security numbers and driver license numbers of all members in the household
    • Address
    • Information about your vehicle(s) (e.g., Year, make, model, vehicle identification number(s) (VIN))
    • Driving history: How many miles you drive per year, details on moving violations and accidents and your desired coverage

 

HOMEOWNERS

  • Does RBFCU Insurance Agency insure outside Texas?
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    Yes, some of our partners do offer insurance outside of Texas.

  • How do I choose a contractor for my home repairs after a storm?
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    Some contractors offering services after storms take advantage of storm victims. Texas Department of Insurance offers these tips when evaluating contractors:

    • Call your insurance company first. Your insurance company can give you advice on what repairs should cost.
    • Use trusted companies. Make sure to check their references and phone numbers.
    • Get written estimates. These should be on the company’s letterhead with clear contact information.
    • Get more than one bid. This will help you decide which offers are legitimate and which may be too high or too good to be true.
    • Do not pay for repairs up front. Good contractors will typically require a partial payment up front to get started, but your final payment should be made after the job is finished.
    • If you feel pressured or threatened, call the police.
  • How do I get requested homeowners insurance documents to RBFCU?
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    If in an area without a branch, insurance adjusters reports and contractor bids can be faxed to the Mortgage Servicing Department at 210-564-2940 or 210-637-3076 or emailed to reservicing@rbfcu.org.

    Insurance checks, after you endorse them exactly as written on the payee line, can be mailed to:

    RBFCU Mortgage Servicing Department
    P.O. Box 2097
    Universal City, TX 78148

    or overnighted to

    RBFCU Mortgage Servicing Department
    1 IKEA-RBFCU Parkway
    Live Oak, TX 78233

    Please put “Attention: Mortgage Servicing” on your envelope and include good contact information on your documents so your documents get to us timely and we are able to reach back out to you.

  • How much flood insurance do I need?
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    If you live in a designated flood zone or you are looking to purchase a home located in a designated flood zone, you will need enough flood insurance to cover all loans against your property.

  • How much homeowners insurance do I need?
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    You will need enough homeowners insurance to rebuild your home in the event of a loss.
  • What happens when I receive a check from insurance?
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    RBFCU will most likely be listed as a payee on your insurance check because we have a financial interest in the property. Depending on the extent of damage to your home, we may release the funds in partial payments as the repairs are completed. Some repairs may require a licensed contractor. Please contact Mortgage Servicing at 210-945-3300, select option 3, then option 2, then option 1. We will provide instructions on sending the insurance adjusters report to us, negotiating the insurance check, and the repair process.

    If your auto is financed with RBFCU, please contact RBFCU Consumer Lending at 210-945-3300, select option 3, then option 3, then option 1, then option 4.

  • What types of incidents does homeowners insurance cover?
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    A standard homeowners policy generally protects your home and your personal property from damage caused by:

    • Fires or lightning
    • Windstorms (including hurricanes and tornadoes) or hail
    • Explosions
    • Riots or civil commotions
    • Aircrafts
    • Vehicles
    • Smoke
    • Theft or vandalism (sometimes called malicious mischief)
    • Falling objects
    • Weight of ice, snow or sleet
    • Freezing of plumbing, heating, air conditioning or other household systems

    It is best to contact RBFCU Insurance Agency to determine what specific coverage your home will need.

 

NATURAL DISASTER

  • How do I submit an insurance claim? ​
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    Contact your insurance company. They are available 24 hours a day, 7 days a week. Your policy declaration page will have your insurance company’s contact information. You will be asked to supply information and documentation about the damages from the event.
  • What do I need to do if my property was damaged by the recent winter storm? ​
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    Notify your insurance companies immediately, even if you are not near the property. If you have separate policies for homeowners, flood and windstorm insurance, contact each insurance company. Be sure to report damages of all insured personal property, such as automobiles and boats.

    Your homeowners insurance company may provide temporary living expenses if your property is severely damaged. If so, make sure you know the insurance company’s requirements for obtaining these funds, such as requiring receipts.
  • What should I do after filing a claim with my insurance company due to damage from the recent winter storm?
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    Your insurance company should give you a claim number after the claim has been submitted. A claims representative will contact you to discuss your claim and coverage. Be sure to keep detailed descriptions of the damage done to your property, including pictures.
  • How long does the process take? ​
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    When settling a claim, the length of time can vary depending on the amount of damage and the number of losses associated with the event. You should be able to check the status of your claim online or by contacting your insurance company directly.
  • How do I choose a contractor for my home repair after a winter storm?
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    The Texas Department of Insurance offers these tips when evaluating contractors:

    • Contact your insurance company first for advice on what repairs should cost.
    • Use trusted companies. Make sure to check their references and phone numbers.
    • Get written estimates. These should be on the company’s letterhead with clear contact information.
    • Get more than one bid. This will help you decide which offers are legitimate and which may be too high or too good to be true.
    • Do not pay for the repairs upfront. Good contractors will typically require a partial payment upfront to get started, but your final payment should be made after the job is finished.
    • If you feel pressured or threatened, call the police.

 

MEDICARE SUPPLEMENT

  • When can I purchase a Medicare Supplement Insurance Plan?
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    You can buy a Medicare Supplement Insurance Plan any time after you turn 65 and join Medicare Part B. If you enroll in an insurance plan during your Medigap Open Enrollment Period, the first 6 months your Part B is active, your medical history is not considered in setting your premium.

  • How do I sign up for a Medicare Supplement Insurance Plan?
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    For more information on how to join, contact 1-833-291-1309.

  • Can I make changes to my Medicare Supplement Insurance coverage?
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    You can drop your policy and apply for another Medicare Supplement Insurance Plan at any time. However, after your Medigap Open Enrollment Period ends, insurers can refuse coverage or charge you a higher premium based on your health and/or make you wait to get coverage for an existing illness.

  • Can I enroll in Medicare at any time?
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    No. There are certain times of the year and specific enrollment periods, including an Initial Enrollment Period (IEP), General Enrollment Period (GEP), Open Enrollment Period and Special Enrollment Period (SEP).

  • When can I enroll in Medicare Part A and B?
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    Your Initial Enrollment Period (IEP) is your first chance to enroll in Medicare Part B. Your IEP is seven months long and includes the three months before the month you turn 65, your birthday month and the three months after your birthday month. Once you are enrolled in Medicare Part B, you are eligible to purchase a supplement insurance plan.

 

COMMERCIAL / BUSINESS

  • As a business owner, am I required to purchase workers’ compensation insurance coverage?
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    No, there is no requirement to purchase this coverage if you are a Texas business, but it can be a valuable part of your protection package.

  • Can I get commercial insurance for my business with RBFCU?
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    Yes, our affiliate, RBFCU Insurance Agency LLC offers multiple business insurance products. For more information visit our commercial insurance page.

  • Do I need commercial auto insurance?
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    If a vehicle is used in tasks related to your business, a commercial policy may be necessary.

  • Who needs a business owner's policy (BOP)?
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    All small businesses such as retail stores, restaurants, and independent contractors typically need a BOP to safeguard against unexpected financial losses beyond general liability claims. BOP protects your small business.