Because almost everyone owns a motor vehicle of some kind, what you pay to insure that car directly affects your monthly budget and, very possibly, your family's health. Contrary to what Internet ads and TV commercials might claim, the process won't take 15 minutes. As what generally happens with most things, the due diligence involved can be tedious and a bit time-consuming.

That's why the folks at Edmunds.com devised a simple 10-step list detailing the process along with some of the traps to avoid. The list can be easily divided into three separate kinds of actions:

• Doing your homework
• Doing your research
• Making the right choice for you and your family

The following is an abbreviated list of those 10 steps:

1. Be open to the possibility that this kind of "exercise" can save you money.
2. Put pencil to paper to determine how much coverage you really need.
3. Before shopping for better rates, do some research to dig up your current insurance policy and driving records.
4. Shop for quotes via the Internet.
5. Size up the quotes you've collected.
6. Follow up with potential vendors via telephone if they haven't contacted you first.
7. Interview vendors thoroughly to find the perks (good credit scores, driving record) that may lower your rates.
8. Find the best insurance provider.
9. Look over the fine print before you commit.
10. Stop the old policy.

Edmunds.com September, 2004