3 Surprises to Watch Out For in Cheap, Nonstandard Car Insurance Policies

It’s common knowledge that drivers with a decent credit rating and a clean driving record can easily qualify for a preferred or standard car insurance policy.

However, nonstandard policies often offer cheap car insurance rates, and one should not take these costs at face value as no company is willing to take on more risk.

With that said, here are 3 surprises to watch out for in cheap, nonstandard car insurance policies:

#1: Reduced or no coverage for some drivers

A standard policy offers coverage for you, your family members and people who might occasionally borrow your vehicle. This is not so with a nonstandard policy as there might be terms and condition which might exclude coverage for risky drivers or even those who might use your car with your permission. Some insurers will even include step-down provisions in the policy to reduce their liability to state required minimum levels if someone else uses your car and meets with an accident.

#2: More driving record checks

If you have a preferred car insurance policy, your insurer conducts driving record checks once a year or randomly every other year. However, in the case of a nonstandard policy, the insurer will check your driving record every six months before the beginning of each coverage term so as to adjust the premium accordingly.

#3: Less coverage for repairs

If you have a standard policy that offers comprehensive insurance, you can be sure that in the case of a collision, you can expect repairs to be paid for in full. This might not be the same with a nonstandard policy where only a percentage of the depreciated value of the car after the accident will be covered by the policy.