1. Check your coverage. When I first got my car insurance I trusted the agent would put me together the best possible deal. Keep in mind that an insurance agent makes money off selling new products and services. When I looked at my policy I realized that the coverage was way higher than the state minimum requirements for bodily injury/liability and property damage. These are the 3 numbers with the slashes in between them. You can easily check what your state requirements are by looking here http://personalinsure.about.com/cs/vehicleratings/a/blautominimum.htm then make a decision based on what your current coverage is.
2. Ask what discounts are available. Just because discounts are available doesn’t mean your agent is offering them to you. A good tactic is to call your agent and ask them what you can do to lower your monthly payment since another insurance company offered you a better deal. In order to keep your business they will scramble to find a few areas that can be cut in order to keep their retention rate low. Common policy discounts include safe driver, multi car, multi line, good student, military, and senior. Also ask if a life insurance policy can qualify you for a total policy discount. I have State Farm and a small term life policy was only $14 a month and it got me a 10% discount on my whole policy for my two cars, which after factoring in the $14 for the life insurance every month I was still saving a few bucks.
3. Raise your deductible. I raised mine from $5000 to $1000 and it made my payment drop almost $40 per month. I would only recommend this if you have enough savings to cover your deductible in the event of an accident.
4. Drop unnecessary coverage. Some types on insurance make sense but others are pointless if your already double covered. If you have more than one vehicle you may not need rental car reimbursement coverage, keep in mind this coverage is only usable if you need a rental car due to an accident which puts your vehicle in the shop. You cannot use this coverage if your vehicle broke down and you need something else to drive. If your work offers disability pay, life insurance, or accidental dismemberment payout it may be cheaper than buying the coverage from your insurance agent.
5. Shop around for better rates. There is no harm in looking at what other carriers have to offer. When I was first looking for insurance at 18 I was shocked to see a difference of $200 between three different providers.