How do I update my homeowner’s insurance?

If you change your homeowner’s insurance policy:

  1. After you obtain your new homeowner’s insurance policy, cancel your previous homeowner’s insurance coverage.
  2. Your new insurance policy should include your loan number and the information below:
    TruStone Financial Credit Union
    Control #3200, as Lienholder/Loss Payee
    PO Box 2760
    Sioux City, IA 51106
  3. If TruStone Financial has paid an insurance premium on your behalf to the previous carrier within the past 12 months, then pay the new premium out of pocket and keep any refund you receive from your previous carrier. The refund doesn’t need to be deposited into your escrow account at TruStone Financial unless you want us to make premium payments to your new insurance company.
  4. If you would like TruStone Financial to make the new premium payment to the new insurance company:
    1. Contact us and let us know.
    2. If you receive a refund from your previous insurance carrier, send a check payable to TruStone Financial Credit Union for the refund amount and we’ll deposit it in your escrow account.
  5. We will include any adjustments to your escrow account related to the cost of your homeowner’s insurance in your next Annual Escrow Analysis, which is scheduled each May.