Are insurance rates higher if you have a lien on the auto?

Question

I heard they charge more if you have a lien on your car and was wondering if this is true?

Answer 1

I have never found that to be true. You do have to carry full coverage at least until it is paid for as the lender requires you to..............UJN

Answer 2

i am in the process of buying a different car. I am going from a 99 mercury tracer to a 99 grand am gt which is a lot more sporty. And I have a lien on the tracer of about $1350 and I am adding about $4000 more to it. I checked with my insurance just to see how my premium would change and they said not that much at all.  It all depends on the what kind of car it is and your driving record and the deductibles  on your account. talk to your insurance company and they'll explain it to you.