Dear Driving for Dollars, I just co-signed a car loan for my boyfriend. He put the car insurance in his name only. Will they notify my insurance company about the purchase? Can my auto insurance go up? -- AprilDear April, It's unlikely that your car insurance would go up unless you are listed as a driver on that car. It's entirely possible to not be named as an insured party on a car you own or co-own. It's also possible to co-sign a car loan and not even be listed as an owner or co-owner on the title.Ask the adviserIf you have a car question, e-mail it to us at Driving for Dollars. Read more Driving for Dollars columns and Bankrate auto stories. Bankrate's content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this website is governed by Bankrate's Terms of Use.This week:4 tips to avoid costly winter car repairsCo-signing a car loan won't hike insurance Create a news alert for "auto" advertisementRelated Links:Video: Modern oil change guidelines5 cheap-to-own family sedansInfographic: Have enough auto insurance?Related Articles:6 car-shopping mistakesCertified cars offer peace of mindSubscribe to Bankrate newsletters
Dear Driving for Dollars, I just co-signed a car loan for my boyfriend. He put the car insurance in his name only. Will they notify my insurance company about the purchase? Can my auto insurance go up? -- April
Dear April, It's unlikely that your car insurance would go up unless you are listed as a driver on that car. It's entirely possible to not be named as an insured party on a car you own or co-own. It's also possible to co-sign a car loan and not even be listed as an owner or co-owner on the title.
Bankrate's content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this website is governed by Bankrate's Terms of Use.
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