Am I required to obtain full coverage insurance on my loans?

If your secured loan has a balance of $5,000 or more, you are required to have full coverage insurance with a deductible of $1,000 or less. Once the loan balance drops below $5,000, you are no longer required to maintain full coverage insurance. If you fail to provide proof of full coverage insurance, Veridian reserves the right to add insurance to the collateral. Comprehensive and collision coverage on vehicle with deductibles not to exceed $1,000.