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As a person who's worked in the insurance industry for over ten years, one of the saddest things to see is a customer paying too much for auto insurance. Because of the general confusion and ignorance about what drives the rates, most people don't know how to get a fair shake. So here are a few helpful tips. They are the top five ways you can lower your insurance rates, but still keep adequate coverage. Just:

1. Re-estimate your daily mileage.

Remember when you purchased your auto insurance and you guest mated the amount of miles you drive each your? If you weren't sure, your agent probably offered up a number between 15,000 and 20,000 in an effort to help fill in the blank. Well, this "arbitrary number" is driving your rates. The less you drive yearly, the lower your rates. So get a real number. You might be surprised to find how little you actually drive and the amount of savings you get when the lower number is imputed into the calculation of your auto rates. It's an effort worth the savings.

2. Remove insurance options you don't use.

Are you a member of Triple A? If so, you don't need the extra tow option on your auto insurance. The same idea goes for rental car coverage and medical coverage. If you have coverage outside of your auto insurance that provides you the same service, it's a waste of your money. However, here's a word to the wise. You will want to keep it on if you have passengers who aren't on your health policy. Why? The medical coverage on most auto policies also transfers over to any passenger in your vehicle regardless of their relationship to you. It's something to think about.

3. Check for discounts.

Our lives are always transitioning, so the discounts you didnt qualify for when you first purchased your auto insurance may actually be in reach now. Take the time to call your agent and review your options. You might be surprised at the amount of money you save with just one call.

4. Raise your deductible.

If you are able to pay a higher deductible in the event of an auto accident, raise your deductible. A deductible of $500 and higher will substantially lower your rates, especially if you working with a $100 or $200 deductible now. Call your agent and play around with the figure until you are comfortable with your monthly rate. Also, be sure that your agent makes you aware of all of your deductible options, so you can make the best choice.

5. Change insurance companies.

If you've been with an insurance company for 10 years and they refuse to offer you a decent rate, change to one of their competitors. A competitor of your insurance company will gladly give you a lower rate to come aboard. Just be sure that you're getting the same coverage and similar service. Don't let misguided loyalty or family tradition make you pay more than your fair share for insurance. Remember, times are tough for many and you need to work within your budget.

In conclusion, these are the top five ways you can lower your insurance rates. Do them all and lower the amount you pay for coverage on a monthly basis.

Learn more about this author, Stephanie Modkins.
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