When you are buying any kind of insurance in today’s economy, you have more to worry about than just that you are paying the lowest amount possible. In fact, perhaps the first thing you should worry about is not whether you can pay the insurance company, but whether or not they can pay you. You can find this out by investigating the auto insurance rating of the various companies you are dealing with.

You might not believe that some of the large auto insurance companies could ever fail, but plenty of the largest financial institutions in the world have had to be bailed out in the past two years, and some of those were insurance agencies. You should never put your trust, and by that, I mean your insurance policy, in the hands of a company that is not financially sound and able to pay you in the event of a claim.

Of course it is not just the large insurance companies whose auto insurance rating has suffered over the past few years. Your local, small-town insurance agency may not have the financial backing to pay you back in case of a claim, so beware.

For this reason, it is important that you properly do your research and make sure that you never shop for car insurance based solely on price. Although you may be getting a good rate from a company, is it that good of a rate if they can’t pay you for a claim?

When you are checking on insurance policy rates online, make sure that you also check the auto insurance rating of the company with which you are intending on signing up. It could make the difference between just making a claim, and making a claim and actually getting a check at the end of it.