In these tough economic times a lot of people are looking for cheaper automobile insurance policies and the question they ask is, aren't all policies the same, and the answer is no they are not. There can be huge differences in policies on what is covered and what is not covered. For an example, some insurance companies now to minimize their risk, are simply providing in your automobile insurance policy that no one under the age of twenty one is covered. What does that mean to you, if you have one of those types of policies and you loan your car to your son or daughter and they are under the age of twenty one and they are in an accident they and you are responsible for the damages caused, not your automobile insurance company. Other policies are requiring that you identify every member of your household who may be driving your car. What happens is, you apply, you identify who is at your house today but then your son or daughter who was away at college or living in an apartment, moves home and drives your car. If you do not notify your insurance company in writing of that change and your son or daughter is in an automobile accident your insurance company will not provide any coverage, but more troubling, some insurance companies are not excluding certain types of people but certain types of conduct. One insurance company says that if you or the driver of your car is racing at the time of a collision, there is no coverage for that accident. Other insurance companies provide that if you or the driver of your car is intoxicated at the time of a wreck, there is no coverage. Now you may not plan on racing your car or drinking and driving and you hope that no one you loan your car will do that but when you're looking at insurance policies and coverage make sure the policy you buy will provide coverage to you if the person that hits you has one of those policies and has no coverage.