Tag Archives: car

8 factors that affect your car insurance

Car insurance can be an annual headache for many of us, shopping around for the best quote or battling over the phone to stay with your current cover for a cheaper price. Insurance companies will create an insurance premium that judges how much of a risk you pose to them as a customer. If you are lower risk, you’re likely to have a lower premium.

car insurance factors

Make sure you're covered with a good premium!

Take a look at the Healthy Hideout’s top 8 factors that will affect your car insurance bill:

  • Profession – Some insurance companies will treat certain professions with more caution, so if your travelling long distances, working anti-social hours or carrying passengers your premium is bound to be higher than normal.
  • Job title – Without  pre-judgement about your work environment heirachy, it’s important to note that certain job titles will equate to a higher premium. People who are more inclined to stay indoors with less travelling are bound to have lower price tags.
  • Driving History – One of the most important factors – If you’ve been involved in many accidents or convicted for a serious motor offence you’ll almost certainly have to pay a much higher price for your cover. No-claims bonuses can really play importance with situations such as this.
  • Drive time – The more time you spend driving your vehicle, the more chance you’ll be involved in an accident. If you can commit lower mileage on your policy, your premium will of course be lower.
  • Car type – Many people don’t seem to realise that the type of car they drive actually effects the price of your policy. Brand new, popular or even classic cars can usually cost more to insure as they are considered more vulnerable to theft or repair.  Engine size and power also affects your policy negatively.
  • Where you keep your car – If your car is secure over night, your insurance cost will be greatly improved. If you keep your car locked in a garage, you’ll pay less than someone who parks their car on the street.
  • How you pay – If you choose to pay your annual insurance policy in one lump sum rather than monthly installments, it will cost significantly less. Insurance providers will charge you interest for the privilege of spreading payments.
  • Credit rating – Your credit rating will almost certainly come into play when purchasing an insurance premium. If you are in any way a liability for the provider to take on board your business, it’s more than likely that you’ll charged for the luxury.

Smoking: The True Cost to your Health

Need another reason to quit smoking? Why not spend 2 minutes of your time reading this short article that truly highlights the costs involved with smoking.

Many articles already address the importance of quitting smoking, with some focusing on the health risks involved and others highlighting the vanity & image related reasons. The Centre for Disease control estimates that around 23% of adults aged between 25 – 44 still smoke, whilst smoking remains the number one cause of preventable death in the US. It’s almost as if our health and how we look simply aren’t good enough reason to stop poisoning our bodies with such toxic smoke.

Bad for the body and your wallet

From research taken from Tobacco Free Kids as of October 2010, the average pack of cigarettes stood at whopping £5.59. Although cost does vary for region and applicable taxes involved, this is still quite a dent on your daily expenditure. Just imagine if you found £5 at the side of your bed each day your woke up? What would you do with it? Let the Healthy Hideout break it down for you:

  • One Week – It’s a saving of almost £40. That’s enough to eat away from the office at lunch everyday, fuel your car for a week, or take your other half to the cinema for a date.
  • One Month – £167 stays in your pocket, ready for you to splurge on that special pair of party shoes you’ve been waiting for. You could go for a special evening dinner with a friend, or book a weekend away at a your local spa for the ultimate relaxation experience.
  • One Year – Now things start to get a little serious – almost £2000 serious. This is enough to place a deposit on a brand new car, take an extravagant holiday away to somewhere tropical or even buy a top of the range home cinema system. With the average UK wage standing at around £16,000 this saving is an incredible 12.5% of your years earnings.
  • Five Years – If the above wasn’t already enough of an eye opener, then why not try a saving of nearly £10,000. This is enough to place a deposit on a house, clear any educational related debts or renovate your entire house.

In short, there is absolutely no limit to how much you can affect your wallet positively just by kicking the habit. If a parent were to stop smoking once their child was born, they’ll have saved around £35,000 by the time the child hits 18 years of age. If someone aged 30 decided to quit and put the money that they saved into a 6% savings account until they retired, they’d have an extra £150,000 waiting for them.

Kick the habit today

Many health studies already support infinite reasons of why quitting smoking benefits your body. If it takes realisation of the financial factors involved such as the ones mentioned above for you to quit, then why start today?

For more information on quitting, please visit the following NHS resource: http://smokefree.nhs.uk/