Although securing cheap insurance premiums is seen as the pinnacle of responsible adulthood, these policies are not always what they're cracked up to be. In other words, although there are obvious benefits to paying cheaper premiums (i.e. saving money), this may come at a cost that you haven’t yet considered. Nevertheless, every driver is different and in order to decide what works best for you, you will need to perform your due diligence with regards to weighing the pros and cons. Here’s a quick overview of 5 things most agencies will never tell you about purchasing cheap insurance.

1. Cheaper Service

As the saying goes, you get what you pay for. No matter how attractive cheaper premiums may seem, please remember that this cheaper coverage is always at a cost. In particular, a cheaper premium almost always means you will have to give up some coverage options. For instance, you most likely won't be receiving full coverage if you select the cheapest package. Moreover, much-needed amenities such as emergency roadside service, coverage for glass, coverage for rentals in case your car needs to be repaired, etc. will also likely not be an option. Remember to read your entire policy and to ask questions if you are confused about the package you are signing up for.

2. Unreliable Companies

Additionally, fly-by-night companies have also become an issue in recent years. While more reputable companies may charge more due to the perks of being associated with their brand alone, a company with no reputation can literally disappear overnight. In other words, though you now have the ability to purchase policies from remote companies all across the country, it’s much harder to really know who you are doing business with. Therefore, you could spontaneously lose your coverage if the company fails or experiences some other major shakeup while you are subscribing to their services. The solution? Make sure you connect with reputable insurance companies using a service like Online Auto Insurance.

3. Failure to Honor Claims/ Haggling Value

Furthermore, just because a policy says you are guaranteed a certain amount of coverage doesn't mean the company will back it up when the time comes. In fact, shady insurance companies are known for using unethical tactics such as prolonging the process of filing claims, failing to honor certain aspects of your policy (i.e. they may fail to pay you for days missed from work or provide a rental car if you are in a major accident), or even finding ways to avoid paying the policy’s value altogether. Unfortunately, there is no way to know how your insurance company will handle these things until they happen. While reputable companies are likely to pay quickly, a shady company could leave you hanging for days, weeks, or even months. Again, the only solution is to use a reputable service like Online Auto Insurance to get car insurance quotes from stable, trustworthy insurance carriers.

4. Customer Service

One of the ways better-known insurance companies justify their higher premiums is through their stellar customer service. While smaller agencies are only available for a limited number of hours per day, the well-funded ones are typically available 24 hours a day, 7 days a week. This can make a huge difference when dealing with matters such as accidents because, obviously, they don't always occur when it’s most convenient for us. Moreover, the better-funded agencies also typically have a more efficient way of keeping track of claims, which makes for a more efficient experience as well as less time wasted. Additionally, those working at reputable agencies may be more personable and go above and beyond to make sure every customer is satisfied. This can make a world of difference when dealing with stressful matters such as accidents.

Of course, smaller companies can be perfectly high-quality. Sometimes they are simply using lower rates as to attract more customers. In this case, you will likely receive _better _customer service than that of a larger agency - and more amenities as well.

5. Limited Coverage

Lastly, many of the lesser known insurance agencies only offer coverage in certain regions and may even exclude certain drivers and circumstances. For instance, if you have a "rebuild/salvage" title, you may be excluded from obtaining coverage from certain agencies. Moreover, they may also only offer coverage in your city or state, which could make it difficult for those who travel often or that are considering relocating in the near future. Moreover, this could also cause motorists to be dropped if their coverage areas are changed for any reason.

Overall, there are plenty of benefits to purchasing cheap insurance policies. Not only can they save us money but, in some cases, they can also deliver superior service. However, in insurance (as elsewhere) the old adage is true: You get what you pay for. That’s why it’s in your best interest to shop around and do your due diligence before deciding on an insurance company. While it may not seem like there is a major difference between companies and coverage packages, choosing the wrong policy could cost you time and money down the road.