NASHVILLE, Tenn. (WTVF) — Chances are you’re paying more for car insurance these days. On average, 18 percent more! So how would you like to save some money?
No one wants to pay more than they have to, especially for something necessary but not all that fun. We’re talking about car insurance, so let’s kick it in high gear.
Here are five ways to slash your premium.
Increase Your Deductible: Now might be the time if you haven’t raised your deductible recently. Consider a thousand-dollar deductible to save on your annual premium.
Remember, you’re increasing your potential out-of-pocket repair costs after a crash, so make sure you have access to the money just in case. Or use the savings to build an emergency fund.
Drop Collision and Comprehensive Insurance: As your car's years and miles pile up, its value decreases. That lowered value might not justify the expense of paying for collision and comprehensive coverage.
“As a general rule, when the premium is more than 10 percent of the car’s value, it’s time to consider dropping collision, and maybe comprehensive, too,” said Consumer Reports' Chuck Bell.
Take a Defensive Driving Course: Some insurance companies let you take a safe-driving course to get a discount. It only takes a few hours, tends to cost around $25 and the savings can add up. And you might even be able to take the course online.
Shop Around Then Bundle: You may be able to save hundreds a year by combining your home and auto policies.
Sign Up for Driver Monitoring: You can save up to $800 with some insurance companies if you allow them to track your driving habits with a smartphone app or a device that plugs into your car’s diagnostic port—so long as you prove to be a safe driver.
There are some trade-offs, remember you’re giving up some privacy, in much the same way you do when using certain smartphone apps in exchange for a potential discount.
If you drive under 10,000 miles per year, you should know about this. Most insurance companies factor in annual mileage in their pricing.
So if you're not driving ten thousand miles a year, make sure your insurance company knows that and you could save about $100.
There are still so many families in East Tennessee hurting following the floods from Hurricane Helene in September. That made this year's running of the Santa Train extra special for many families in the northeast part of the state. This special Santa Express has been making an annual run in part of Appalachia for over 80 years.
-Lelan Statom
