There is a good chance right now you are paying too much for car insurance.

The Internet has created increasing competition between car insurance companies. It is easier than ever for consumers to shop for low insurance rates, to analyze coverage and compare premiums. Still, studies have shown that people don't shop around for insurance in the same way they might shop for a new car. Also, people tend to stay with the same insurance company for years.Put the power of the Net to work for you and save money in the process.

You can save in 5 ways:

1. Make sure you get all discounts that you qualify for

2. Keep your driving record clean and up to date.

3. Adjust your coverage to assume more risk.

4. Drive a low profile automobile.

5. Shop around for a low cost insurance policy.

Discounts fall into a number of categories:

Low-risk occupations

Professional occupations

Combined coverage

Discounts for various safety features

Assuming more risk

Senior citizen discounts

Low risk occupations:

Drivers that work as engineers tend to have fewer accidents, at least that is what the numbers say. Are you eligible to get an occupational discount? The only way to know is to ask your insurance provider.All insurance companies are different, shopping around is the best route.

Professional organizations and auto clubs:

Affiliation with AAA — and certain other professional organizations — will lower your rates.

You should check with your employer to see if there are any group insurance rates. At the same time try checking directly with the insurance company representative when you inquire about the cost of policies.

Combined and renewal discounts:

Big savings can be had by insuring your cars with the same company that insures your house.This will lower your payments on your car insurance and make your homeowner's policy cheaper too.

Look into getting a renewal discount.This is a discount that is applied to one's policy for being with the same insurance company for an extended period of time.These types of discounts help the consumer and the insurance company, like a win-win situation.All they have to do is collect the money you send them and in return for the free money they will give you a discount.

Discounts for auto safety features:

Auto safety features can lower your premiums. Some of the biggest features are anti-lock brakes. Some states will encourage drivers to buy cars with anti-lock brakes by requiring insurers to provide discounts. Check to see if you live in such a state.

Air bags and automatic seatbelts are also included in most states.

Assume more risk:

Two powerful ways to bring your coverage down is to assume a higher risk. This is done in two ways. The most dramatic reduction can be realized by dropping your collision insurance on an older car. If the car is worth less than $2,000, you'll probably spend more insuring it than it is worth.

Another way to redesign your policy — and save money in the process — is to ask for a higher deductible. The deductible is the amount of money you have to pay before your insurance company begins paying the rest. In other words, you pay for the little dings and bumps and let your insurance company pay for the heavy hits.

If an accident you're in causes $1,500 worth of damage, you pay $500 and the insurance company pays $1,000. You could, however, set your deductible to $1,000. This still covers you against heavy losses, but it may decrease your monthly premium by as much as 30 percent.