It means Andigo has purchased insurance for your collateral because we don't have information from you to prove you have current insurance coverage. You should have received a phone call and three letters including a copy of the actual insurance policy that Andigo purchased before we added this insurance premium to your loan account.
Sometimes this is because we don't have the right contact information for you or that we're not listed as a loss payee, mortgagee or 2nd mortgagee on your insurance policy (it should be listed as Andigo, PO Box 792268, San Antonio, TX 78279-2268).
If any of this is the case and you do have adequate insurance coverage, please fax that information to our Insurance Department 5834 at 877.308.8760 (for vehicles and vessels - comprehensive and collision deductibles must be no greater than $1000 each) or 877.308.8759 (for mortgages or home equity products - must be at least the amounts of all mortgages on the property) and we'll take care of it right away.
Confused? No worries, just give our collateral protection crew a call at 866.439.3614.