With everyone trying to save money these days, cheap car insurance policies are looking more and more attractive to many consumers. Most of them believe that they are good drivers and may never have to make a claim against their insurance policy so they see little risk in choosing a policy that does not provide as much coverage. Unfortunately, by the time they realize their mistake, it is too late. Here are some problems associated with cheap car insurance that many people have found to be common.

Driver Exclusions

A typical, run of the mill car insurance policy generally covers you, each of the listed members of your family, and other friends or relatives that may occasionally borrow your car. A cheap car insurance policy may exclude some of these individuals from coverage when they are driving your car, which means if anything happens to the car during this time, the car insurance company will not pay for it. The types of driver exclusions found on these policies can differ from company to company, so be sure to read the fine print of your insurance policy to see who can be covered and who will not be.

Frequent Driving Record Checks

Many companies offering cheap car insurance check the driving records of their customers more frequently than companies offering standard car insurance policies do. This is to mitigate the company’s risk and allow them to increase the premium price for the policy if negative information is found before the policy is renewed. This is especially true if the driver already had a checkered driving history before the policy was applied for.

Repair Coverage Is Lower

Standard insurance policies generally cover the full cost of repairs to a vehicle, minus the deductible, if the driver or the situation that occurred is covered under the policy. Cheap insurance policies may take the cost of vehicle depreciation into account when calculating the value of the repairs and pay only a percentage of the cost, leaving the policyholder to pay the rest. This cost can be significant and may be more than the policyholder can actually afford to pay, leaving the repairs incomplete or the vehicle held until the total amount owed has been paid.