To add to the previous comments and answer, every 2-3 years (or sometimes more, if you're willing/able), you should shop around to compare auto insurance rates. Lots of times your current rate is based on information that is stale (perhaps you got it when you were 18 and never changed, so even though you're now 29, you're paying as if you were much younger). Also, if your credit score has improved, you have no tickets/claims/etc, you can typically get your rates lowered.
While there are some companies I would specifically warn against (for a variety of reasons, not merely opinions), start your search with some of the "biggies", and maybe look at local agents, too.
Insurance agencies, especially local ones, will tend to offer an additional level of service over 'merely' the 800 number, and will help shop around for your specific case and needs.
Summary of data points to consider:
- collision coverage need (if the vehicle is worth $2000, and collision coverage costs $500/yr, in only 4 years you will have saved the cost of the car)
- deductible need (if it costs more than $250/yr to move from a $500 to a $250 deductible, go with a bigger deductible (in general))
- are state minimum liability levels a level of risk you're willing to accept (eg 25k/50k instead of 250k/500k)?
- is the state minimum liability level more expensive than a higher limit (every time I look, it costs more)?
- if you have more than one driver (eg a spouse), how would the rate change if she is listed as the primary driver and you the secondary?
- is the vehicle garaged, off-street, or on-street parked?
- does the condo complex (if applicable) have any insurance offered/provided for vehicles on their grounds?