Can anone help me as to how can I get insurance renewed for my two year old car without paying too much for insurance?

You could go online and do some comparison shopping between direct companies, but unless you either raise your deductible, lower your liability limits or drop comp and collision (not a good idea on a two year old car), you will probably end up with a similar premium. Talking to a good insurance agent about your specifics is probably the best idea.

Here is a good site to compare insurance quotes in your area.

http://www.netquote.com/