If i am teir 2 and cosigner is the highest teir, do they go with just my cosigners and i get the highest teir rate????

Also do i absolutely have to insure the car under mine and my cosigners name or can i just do mine since i will be the only driver?

Any help would be greatly appreciated. Thanks

 

If the person with the higher tier is the main person on the contract and you go on as cosigner, then you get the highest rate.

Insuring depends if you live under the same household and on the same policy. If so, juggle the names around on the cars in the house. If it's cheaper for your name to be on a certain (older) car, then put it on there. Coverage is still the same. If not the same, it should be fine for you to insure it under your name.

 

Whose name is on the car title? If the co-signer on the car note is NOT a co-owner of the car then the co-signer's name does not need to be on any of the insurance. The lien holder is only concerned about the value of the collateral, which is the car. As long as they are named as an additional insured, the lien holder should be fine.

My response assumes the co-signer is not in the same household. Consider dchar's response if co-signor is in same household and multiple cars are on same policy.