5. KEEP YOUR PREMIUM LOW

Now that you've envisioned your ideal policy, write it down and scour the Yellow Pages and the Internet for insurance companies to contact. Make a list and start getting quotes over the phone and/or off their web pages. The web boasts insurance search engines like InsWeb that will let you compare quotes from various companies in one fell swoop. However, speaking to representatives on the phone is always preferable filling out online forms.

When talking to insurance agents, don't be afraid to ask about options they don't mention. Also feel free to ignore some of their suggestions if they contradict your financial priorities. Remember that they are SALESPEOPLE; the more you spend, the better they do. There are two objectives you should keep in mind when shopping for car insurance:

1. Make sure it's affordable
2. Make sure it's dependable

1. Make sure it's affordable

News flash: Different insurance companies have been known to charge very different rates for the exact same coverages. These variations in price are often the result of the way in which a particular company actually sells their insurance. Insurance companies sell coverage in one of three ways:

  1. Directly to the consumer over the phone or the web. This method is the cheapest, but the companies that use it, like GEICO and Amica Mutual, tend to only accept drivers with near perfect driving records. Sometimes these companies have divisions that cater to not-so-good drivers, but these rates tend to be much higher.

  2. Through agents of the company itself. State Farm, Allstate, and Farmers all use this method to sell insurance, which falls in the middle range on the price scale. This is a good option for those with average driving records.

  3. Through independent agents who act as intermediaries between various companies and the consumer. They generally provide the most thorough information regarding possible options, but - being middlemen - they tend to be the most expensive. You can find agents in your area through the Independent Insurance Agents of America.

2. Make sure it's dependable

What good is a $200-a-year policy if after you pay your premium you never hear from the company again, and every time you call their toll-free number you get a recording of a woman panting and whispering things that have very little to do with insurance? Absolutely none. Shopping around for car insurance involves finding a happy balance between the service you'll receive and the price you'll pay.

Once you've narrowed down your list of possible providers, check up on their track records with consumers. Consumer Reports, SafeTnet, and Insure.com do extensive research on consumer relations with insurance companies, so giving them a visit would be a good start. Besides that, just use common sense. If an insurance company is unhelpful and unfriendly on the phone when you call for a quote, chances are they won't be much friendlier when you file a claim with blood gushing out of your skull.

So you should now be set! And if you happen to get a "huge cash settlement," please remember to give us a cut of the action.