In days past we used to get insurance from our parents insurance agent and just go with that. Now, it certainly pays to spend a few minutes doing an online insurance quote to see if you're getting the best coverage for the lowest cost. Here are 4 reasons to check your insurance coverage at least annually.

#1 -- Competition keeps rates reasonably low
There are many sites online now that can give you multiple quotes from multiple companies in just a few minutes. For most of these quote services, all you need is your name, address, and vehicle information to get a quote. The good part for consumers is that the more companies that offer quotes online, the lower the rates should stay. You know that companies check each other out online and make necessary adjustments. Yes, service when you file a claim has something to do with it, but most people are shopping purely on price.

#2 -- Depreciation: Why pay the insurance cost based on last years value?
Okay, you might not get much of a price break here but it doesn't cost you anything to check it out. The logic is clear though. If your car is worth less this year than it was last year (and most all of us can claim that), then you might be able to save yourself a few extra bucks this year on car insurance.

#3 -- Job change
It's true, some companies will give a break to a biochemist but not your friendly neighborhood dogcatcher even if they drove the same type of car, lived next door to each other, and had identical driving records. Some auto insurance companies studied millions of policies over the past 3-4 years and concluded that certain occupations are less risky than others. It makes sense. Have you had a job change recently? You could be due a break on your car insurance.

#4 -- Education
The same insurance companies that will give discounts for certain occupations will also give discounts for higher education. Someone with no high school diploma will pay more for car insurance than will someone with their GED or even a more advanced degree. In most cases, you'll earn more if you have an advanced education. The insurance companies think (and probably have proof) that the more education you have, the less likely you are to be in a car accident.