With the economy in shambles, many people find themselves struggling with finances and in an attempt to save money sign up for the cheapest auto insurance quote they can find online. But purchasing auto insurance solely on the basis of the initial rates quoted by auto insurance companies can turn out to be a bad decision, one that entirely defeats the purpose of getting insurance in the first place, and one that may put you in the worst possible financial crisis.

Unless you pick auto insurance companies on the basis of their reliability, financial stability and customer reviews and complaints, chances are that you will find yourself stuck with an insurance provider that does not have the means or inclination to respond to your claims the way you need. Moreover, the initial quote being low is no guarantee that your insurance rates will remain the same. Reputed, well ranked auto insurance companies, on the other hand, have a reputation to maintain and the funds to pay out when you file a claim.