For many people looking at insurance is just a way to hand someone free money in the hopes of one day getting a larger payout then you pay in. In truth, most insurance holders never make a claim but pay out tens of thousands of dollars over the course of their lifetime. For businesses, this seems like a growing trend as well. Many employers will pay out insurance premiums and employees never using them or abusing the systems to get more payouts than they are entitled. If this sounds familiar, consider looking into the Captive insurance industry for more details.
Knowing your numbers
With insurance it is a numbers game. The idea is to pay out as little as possible and hope for a big payout if you get hurt or need to file a claim. When owning insurance, you will want to negotiate with your insurance company every year or every few years. If you are paying a high premium each month, consider contacting them to see if you can get a better rate. If they review your account and see that they have made a profit off of you with no claims, then they might be able to work with you.
Increase your deductible
Give your insurance company a reason to work with you. If you set a high deductible, then the risk of them having to come out of pocket with a lot of upfront money may let them lax your monthly payments.
Shop around for quotes
Before negotiation with your insurance company for a better rate, go to the table with quotes from their competition. If you can get a better rate from someone else tell them. See if they can match it or beat it. Most companies will work with you on your rates if you come to the table threatening to leave.