A: All customers must provide proof of property insurance on the vehicle and meet state minimum limits related to liability insurance. Sunrise Acceptance requires customers to provide property insurance naming Sunrise as loss payee/lienholder, protecting against loss and physical damage with a deductible not exceeding $500.00. Insurance can be purchased from any licensed agent or insurance company of your choice.

A: If customers fail to maintain property insurance, the installment contract states Sunrise may obtain insurance to protect its interest in the property in the event of total loss or damage. We will add the premium for a Contractual Liability insurance Policy (CLIP) to the amount owed. If a customer obtains the required insurance after the CLIP is obtained, the CLIP will be cancelled, and any unearned amount paid will be credited to the customer’s account.

A: Yes! Please use https://sunriseacceptance.axle.insure?accounts=1 to upload your insurance information. You may also upload this in advance of purchasing a vehicle to speed up your purchase process. If you have difficulties uploading your insurance information, call 423-813-8731 and let us know if you are a current customer or if you are applying to purchase a vehicle.

A: Insurance at the time of purchase should be through a third-party agent or insurance company. If at a later time, you fail to maintain the required insurance, please call our office at 423-813-8731 and let us know you are a customer of Sunrise. The installment contract states that Sunrise may obtain insurance to protect its interest in the property. Sunrise will purchase a CLIP pursuant to this authority. The current cost for the CLIP is $138.67 per month. The CLIP will not provide bodily injury or property damage liability insurance and will not satisfy state financial responsibility laws. You must obtain this coverage from an agent or company of your choice.

A: Please note that after we buy insurance to cover our interest in the collateral, absent specific instructions at the time of payment, we will apply payments to your account as follows:

First to any fees outstanding (insufficient funds fee, recovery fees, etc.)

Next to one installment contract payment (finance charges first, remainder to principal)

Next to one regular insurance payment

Next to one additional installment contract payment (finance charges first, if applicable, then principal)

Next, up to one past-due insurance payment (if applicable)

Any remaining will be applied to your installment contract balance (finance charges first, if applicable, then principal) 

If you would like us to apply the payments in a different order going forward, please let us know via email or in writing at the address below. We will not be able to apply unspecified payments differently based on verbal requests.