Insurance FAQs

We know that insurance can be complicated. That’s why Suncoast is here to answer any questions that come up about home, auto and personal insurance.

Members Insurance Center

Members Insurance Center

For all questions concerning the Members Insurance Center, please check out the Members Insurance Center site.

Validate Insurance Coverage

How do I provide proof of insurance?

If you received a letter from Suncoast Credit Union stating that we have not received a copy of your insurance policy that protects the collateral, we must be provided with your current insurance declarations page. To make this an easy process, you may submit the verification of insurance online at You will need to have the Unique Identifier Number located in the upper-right corner of the letter from Suncoast. You can also call our partner, Southwest Business Corporation (SWBC), to provide the information over the phone at 866-382-3526, or fax proof of insurance to:

Auto, Boat, Trucks, Motorcycles: 866-752-3888

Mortgages and Equity Lines: 866-752-7879


What is a declarations page?

The front page (or pages) of your insurance policy documents that specify the named insured, address, policy period, location of premises, policy limits and other key information that varies from insured to insured. The declarations page is also known as the information page. Suncoast requires the following information, which should be available on your declarations page:

  • A loss payable clause naming Suncoast Credit Union as loss payee/lienholder
  • Description of the vehicle, including the Vehicle Identification Number (VIN) for auto, boat, truck or motorcycles
  • Comprehensive and collision coverage with a maximum $1,000 deductible
  • The effective date and expiration date of the coverage

Private Mortgage Insurance (PMI)

What factors are my PMI rates and costs based on?

PMI rates and costs are based on Loan to Value, product and term, credit and property type.

What are the PMI guidelines?

  • Loan to Value
    • Florida: Up to 95% LTV available for qualified borrowers
    • Out of state: Up to 95% LTV available for qualified borrowers for the purchase or refinance of a primary residence only
  • Not available on second/vacation home or on cash out refinances in Florida
  • Not available for construction loans
  • Maximum loan amount is $417,000
  • Escrow for property taxes and hazard insurance required. This means your monthly payment may increase based on the changes to your annual property tax and hazard insurance amounts.
  • Borrowers must have a minimum two-year employment history. This applies to self-employed borrowers.
  • Co-makers are allowed with restrictions. Please contact the Mortgage Contact Center at 800-999-5887 ext. 87008 for details.
  • 5% of your own funds are required toward your down payment. Additional down payment amounts can be in the form of a gift from an immediate family member — spouse, parent, stepparent, legal guardian, grandparent, brother, sister or child — or fiancé.
  • Seller can contribute a maximum of 3% toward closing costs on LTVs between 90.01% to 95% and up to 6% toward closing costs on LTVs up to 90%.

*Restrictions may apply to co-makers and reserve requirements. Please contact the Mortgage Contact Center for additional information at 800-999-5887 ext. 87008.

**Normal underwriting guidelines apply. Terms or conditions may change without notice.