NORFOLK – In these tight budget times, families are driven more than ever to find ways to save money. Just like the commercial says, many people wonder if they're paying too much auto insurance.

"I've saved people in some cases as much as 50 percent," says financial adviser Tom Speight.

To save cash, re-examine your deductible. Speight says paying a low deductible might be costing you money.

"They're thinking is well, $100 deductible, that means if the accident actually costs me $3,000, then I’m only gonna pay $100 and that's the case. However, when we get down to the lower expenses of repairing a car, that's where I find many clients are over insured. Because they have smaller expenses -- repairs -- that actually occur and they never submit those claims and that's when they should be increasing those deductions," he notes.

Video: Reviewing auto insurance could save money

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"The more that you can self insure and take on that risk yourself, the more money you can save on car insurance," emphasizes Richard Braun, an insurance agent.

He says many factors go into what you pay.

"The most significant factors are your driving record and whether or not you've maintained insurance coverage. Those are going to be your most significant factors. But it's also going to involve how old you are, your marital status, where your garage is and where you live -- how far you drive to work. Why? The insurance company’s job is to figure out what things cause greater risk and so they've done a really great job of isolating all of the factors that contribute to the propensity of you having a loss," he explained.

Your vehicle’s safety features can cut costs, like having an airbag or security system.

A bad credit score can impact your comprehensive premium. It didn’t use to be that way.

"Clearly it doesn't have anything to do with them getting their premium, it has to do with the correlation between financial responsibly and the propensity to have a loss," advises Braun.

Braun says insurance companies have gotten very sophisticated at trying to help you get the right coverage for the right price.

Bottom line: You want to save money and companies want your business.

"I think insurance companies recognize the value of maintaining long-term relationships with customers," stresses Braun.

AUTO INSURANCE SAVINGS TIPS:

1) Bundling can save you money.  Consider one company to cover your home and auto insurance.

2) Ask for discounts.

3) Shop around.  Call several insurance companies or use online sites that use your personal information to compare rates.