The economy has been in flux for several years now, and the tumult has taken a toll on many families and individuals. Regardless of how the economy is performing, however, there is one thing that’s almost always a major drain on the checkbook—namely, monthly insurance premiums. Naturally, consumers wonder how they can save big when shopping for insurance, but are there any steps you can take to legitimately cut costs? The short answer is that, while insurance rates are honestly not all that different from one company to the next, there are a few basic principles you can remember to get the lowest rates possible.

For starters, think about different discounts that might apply to you—or better yet, ask about different discounts that might apply to you. For example, many insurance companies offer discounts if there is a veteran in your family. Others offer discounts to retired persons, or to those over a certain age. There are all kinds of insurance discounts out there, and there’s no harm in asking your insurance carrier which price cuts you might qualify for.

A second thing to remember is that, these days, insurance rates are closely tied to credit scores. The best way to lower your rates might be improving your credit score. That’s an entirely separate topic, and there are plenty of online resources out there explaining how it can be done, but the main thing to say is this: Insurance companies will look at your credit scores, so it’s best to keep them healthy.

A final tip worth mentioning is that, if your premiums are too high, you can always lower them by increasing your deductible. Of course, this is something of a gamble, and it isn’t going to pay off for everyone. If you have frequent medical expenses, it may be better to stick with the higher premiums. But doing the match, and talking to your insurance agent about it, can’t possibly hurt.

Above all, though, remember that saving on insurance begins with the shopping process. While most insurance companies are going to look fairly similar on paper, it’s still wise to get quotes from several different carriers, weigh pros and cons, and settle on the one that’s the best value for you. Doing this research before signing on the dotted line could ultimately save you big bucks over the long haul, and allow you to feel good about your insurance purchase.