Start by setting a time each year to review your policy. Choose a uniform time, like early January or with the time change in spring or fall. Go over each section to see what type of coverage you have and how much it costs in your premium. Then decide if your vehicle use or driving conditions have changed to the point where a policy adjustment may be needed. For example, if you used to drive 15 miles to work one way, or 30 miles a day, but have recently changed jobs and now drive just 10 miles to work each way, or 20 miles a day, this may be enough of a reduction to reduce your policy premium.

Reaching age landmarks like 21, 25, and older also may impact your insurance costs, as can getting married. But if you have a son or daughter living at home who is age 16 or older, your premiums may increase due to having another person of driving age living in your household, whether or not that person has a driver’s license.

If you had a speeding ticket five years ago that raised your premiums, it may be possible now to get your policy reevaluated for a reduction in the premium if you have not had any further traffic violations. Another possible reasons for decreased insurance costs is when a vehicle depreciates over time or if you buy an older and less elaborate vehicle than you owned before.

After carefully looking over your policy, you may decide to raise or lower deductibles, add or remove towing insurance, or make other kinds of changes. Get in touch with your insurance agent to determine the effect of these changes on your policy costs. Then shop for lower rates if need be.