Auto Insurance - Cheaper if no lien on car?

[Murpheeee]

anyone know.....

is it cheaper to insure a car if you have no loan on it?

I have heard a rumor that it is......

 

[richardycc]

no, maybe if you drop the collusion, etc.

 

[civad]

Made no difference for me. I dropped collision and paid$ 600/year less.

 

[fredtam]

no

 

[StageLeft]

They asked me for some reason, but I don't think it's affecting my rate much.

 

[fredtam]

Originally posted by: Skoorb
They asked me for some reason, but I don't think it's affecting my rate much.

Because they would need to know who to pay in case of a total loss.

 

[halik]

nope,
with financing/lien you HAVE to have collision, without it you can just get away with plpd. But your rates are same