Does a Car Loan Affect Auto Insurance?
Part of finding the best rates for auto insurance is understanding the factors that have an impact on your car insurance rates. If you don’t know what affects your rates, it will be difficult for you to be in the position to save money.
A common question that many people ask is about the impact of a car loan on insurance rates. The truth is that your insurance provider does not consider how you pay for your vehicle. It doesn’t matter if you paid for your car in cash, are financing or are leasing your vehicle. So, you do not have to worry about your method of payment for your vehicle if you are worries that this could have an impact on your insurance premiums.
The only time where your insurance rates could be affected is if you decide to refinance your vehicle. If you are in this situation, it is a good idea to talk to a broker, like HUB Insurance Hunter, about what you can do to save money on your rates.
It is these type of questions that consumer need to not only ask, but contact their brokers about. Being proactive and asking questions and getting clarification about things that impact your insurance rates is what will help you save money.
If you have questions about things that impact your policy, contact HUB Insurance Hunter. Either visit our website or give us a call and we would be happy to help. And, don’t forget to get 3 quotes in 3 minutes to save money on your insurance rates.