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What Are The Pitfalls Of Cheap Car Insurance?  

Cutting down on coverage will leave you financially exposed and when accident happen you would have wish to spent more for the necessary coverage. Seeking lower car insurance rates is ideal but you might regret it later if you only focus on price. (See: Buying Car Insurance: You Better Shop Around)

Over long run, it is more worth it for you to get something decent yet not compromising on the pricing and the coverage to cover you and your named driver adequately.

Below are some of the pitfalls for cheap car insurance.

High excess is not good

Increasing the excess can lower your car insurance premium.  However, it will bite back when you to pay for your own damage claims.

Reputation of the insurance company you purchase

Do google and check out the insurance company background if there are any complaints or negative feedback before you make your purchase. Having a lower car insurance premium by reducing the coverage will not be beneficial to you when claims arise and you are not cover.

Another important point you need to take note is claims. When accident happens, you need the insurance company to settle the claims with the third party and protect your interest but not pushing or delaying the claims that frustrate you. 

Additional coverage comes at a cost

Lowering your excess, Loss Of Use (providing a car when your car is under repair due to accident), adding name driver, higher Personal Accident, flexibility of going back to your own workshop and etc… will add up the premium for your car insurance.
Before you want to take up these benefits, do ask yourself if it is necessary.

Buying car insurance directly online

Do take note that buying car insurance online claims to be convenient and cheaper, however, you need to know what you have chosen to be cover before you sign up. Car insurance premium is lower when you remove certain benefits or under declare information and you will have to pay for the price later when insurer reject your claim.  (See: Direct vs Traditional Car Insurance Companies)

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