• What Affects Your Car Insurance Price?

    What Affects Your Car Insurance Price?

    This article was published on Fri 01 Feb 2019. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    If you’re a regular reader of newspaper money pages or online articles, you’ll have no doubt come across the topic of rising car insurance prices making an appearance now and then. Recently there has been frequent mentions that prices are on the rise, with Brexit, rising fraudulent claims and increased technology, amongst others.

    Although car insurance prices can vary due to a number of reasons, we thought it would be handy for you to know some of the factors that could affect the price you receive – from age and driving experience to where you live and your claims history – we give you the lowdown on what could drive your price.

    We take a look the factors that affect the price that you’re quoted:

    Your age and driving experience

    As you get older and you’ve held your driving licence for longer, you’re considered to be more experienced on the roads. Some believe that statistically you’re less likely to be involved in an accident so you can expect to pay a lower price.

    Younger drivers, aged between 17 and 25, typically face paying the highest premiums. All is not lost; if you have a careful young driver in your family then MORE TH>N SM>RT WHEELS might be just the ticket!

    Older drivers are seen to be a higher risk because the chance of you being involved in an accident increases in later life.

    Your job

    Your career might mean that you spend more time driving your car for business use or you use it to commute to work during the week. It’s important you select the right level of cover and that you provide an accurate estimated annual mileage.

    Two similar job titles can provide two very different prices so make sure to be as accurate as you can when entering your job title.

    Where you live

    If you live in a built-up area where the risk of accidents is generally greater, then you’ll pay more for your car insurance. It might be a well-known accident blackspot or have a dangerous road junction in your town, or you could live near a road with high levels of vehicle crime.

    It can vary between nearby postcodes. A car owner who lives on a busy main road may have to pay higher prices because more accidents have been reported there than in the cul-de-sac round the corner.

    Your claims history

    If you’ve made a claim within the last five years this will have an impact on the price quoted.

    Your car

    A little run about is not only cheaper to run but also cheaper to insure for most people. A larger engine or newer car is typically more expensive to repair. They are also more attractive to car thieves so you can expect to pay more to insure it.

    Alarms, immobilisers and other built-in security devices may help reduce your premium. Thatcham Research, the motor insurers’ automotive search centre, has some handy tips on their website.

    Points on your driving licence

    If you have points on your driving licence, this will have an affect on the price quoted.

    The type of cover

    You’d think that the higher the level of cover you go for, the more you’ll pay but this isn’t always the case. It’s worth checking the price for each level of cover on offer as well as making sure the one you select meets your needs.

    Increase your excess

    You can reduce your premium by increasing the voluntary excess to an amount you’re able to pay on top of the compulsory excess if you need to make a claim.

    Your gender

    This used to be a factor, but in 2012 the EU ruled that companies could no longer consider your gender when providing a quote for a product or service so this no longer affects your price.

    It’s not all about you…

    It’s also important to remember that your insurance policy doesn’t just provide cover for your car – it’s also there to protect other road users against accidents you might cause.

    Police Mutual offers car insurance for serving or retired Police Officers and Staff, Specials and their families. For more information about our car insurance and how you could benefit, click here or call 0151 242 7640

    Police Mutual Car Insurance is provided by Royal & Sun Alliance Insurance plc.

    PMGI Limited, trading as Police Mutual, is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales No. 1073408. Registered office: Alexandra House, Queen Street, Lichfield, Staffordshire, WS13 6QS. For your security, all telephone calls are recorded and may be monitored.

    MORE TH>N SM>RT WHEELS Young Driver Car Insurance: via an introduction by PMGI Limited to MORE TH>N. MORE TH>N is a trading name of Royal & Sun Alliance Insurance Plc.

    Royal & Sun Alliance plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered office: St Mark’s Court, Chart Way, Horsham, West Sussex, RH12 1XL. Financial Services Register No. 202323.

    Chris Morey

  • Is Blue Monday Real?

    Is Blue Monday Real?

    This article was published on Mon 14 Jan 2019. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Back in 2005, a simple press release* first identified the third Monday in January as the most depressing day of the year. It was ‘backed up’ by a scientific equation that looked at a basket of things: our levels of personal debt, how long we travel to work, the days since our New Year’s resolutions fell away, and so on.

    Based on this formula Monday 21 January 2019 is likely to be regarded as ‘the most depressing day’ of the year, or Blue Monday, as it has become known.

    Is it true? Well, it probably varies from person to person, but what it does remind us to do is to take stock and explore options should we have any health or money worries, and that can be a powerful thing to start a New Year.

    With money worries being one of the largest wellbeing challenges facing members of the Police family today, it can be tempting to opt for easy, quick-fix options when it comes to finance. Taking on further borrowing can lead to spiralling debt, difficulty in making repayments and vastly increasing stress levels.

    The stress of dealing with financial pressures does not just affect your personal life. It can affect your work, family life, health and relationships. We recognise that sharing your concerns with the people closest to you isn’t always an option.

    Taking positive steps to address things that are weighing upon our minds is always important and here at Police Mutual we have teamed up with PayPlan who are an independent, FREE, debt management company. If you are in serious financial difficulties they can offer free support to help you regain control of your finances.

    So if money troubles are something you are experiencing then why not use Blue Monday as a prompt to get some help and guidance.

    PayPlan is a trading name of Totemic Limited. Company No. 02789854. Totemic Limited is authorised and regulated by the Financial Conduct Authority.

    Police Mutual Assurance Society Limited, trading as Police Mutual, is an incorporated friendly society. Registered office: Alexandra House, Queen Street, Lichfield, Staffordshire, WS13 6QS. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

    * Cliff Arnall for Sky travel.  Find out more at Wikipedia https://en.wikipedia.org/wiki/Blue_Monday_(date)

    Want to learn more? Access our wellbeing hub here.

    Chris Morey

    ,

  • Police Mutual and NARPO Working Together

    Police Mutual and NARPO Working Together

    This article was published on Wed 01 Aug 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    NARPO are one of our most trusted partners and we value being mutually supportive of each other’s members and organisations.

    “Improving the lives of members” is a simple thing to say, and it’s the reason Police Mutual exists. It’s something we’ve been doing for serving and retired Police Officers, Staff, Specials and their families, as well as the wider Police Service since 1866.

    In order to ensure we bring this purpose to life for retired Police Officers we are dedicated to supporting NARPO and its membership.

    We have worked closely with NARPO to tailor our products for their members.

    We provide services and support to NARPO that spans respite care, community support funding such as Force for Good, and Care Line, a nurse led counselling service.

    For those with financial questions and challenges we’ve team up with PayPlan who offer a debt advice service. We also make sure we recognise the great work carers do with our Act of Kindness scheme, offering a hamper of treats or a fresh bouquet of flowers as a humble “thank you”.

    To continue our support of NARPO and their three themes of ‘Life, Leisure and Work’, we are currently enhancing our Retirement Centre to incorporate more NARPO features. We’ve worked in collaboration with NARPO to curate knowledge and information we trust will be valued by our members.

    Check out our Retirement Centre here.

    Chris Morey

  • Force Awards 2018

    Force Awards 2018

    This article was published on Tue 08 May 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us.

    Innovation
    This award recognises the Force Authorised Officer who has helped raise awareness of our products and services in all kinds of special, unique and highly effective ways.
    Winner: Nick Wyer (Dorset Police)
    Runners-up: Martin Guest (Humberside Police), Neil Burns (Police Scotland)
    Raising awareness
    This award recognises the Force Authorised Officer who’s been magnificent at ‘spreading the word’! Helping us to get our improving lives story heard in their force and making sure we can access harder to reach groups.
    Winner: Kirsty Norman (Derbyshire Constabulary)
    Runners-up: Karen Todd (PSNI), Sarah Cook (Thames Valley Police)
    New membership (Smaller Forces)
    This award recognises increasing new membership by the largest amount.
    Winner: Gloucestershire Constabulary
    Runners-up: Bedfordshire Police, Cumbria Constabulary
    New membership (medium Forces)
    This award recognises increasing new membership by the largest amount.
    Winners: West Yorkshire Police
    Runners-up: MET Police Service, Police Scotland
    New membership (Larger Forces)
    This award recognises increasing new membership by the largest amount.
    Winners: West Yorkshire Police
    Runners-up: MET Police Service, Police Scotland
    Special recognition
    This award recognises the Force Authorised Officer who has gone the extra mile in creating excellent opportunities for Advocacy, Access and Awareness. Helping to effectively deliver the Police Mutual Improving Lives Story, this person has truly made a world of difference.
    Winner: Claire Batt (Ministry of Defence Police) and Mark Payne (West Midlands Police)

    Chris Morey

    ,

  • The Police Mutual Group – Making a Difference to Police and Military Lives

    The Police Mutual Group – Making a Difference to Police and Military Lives

    This article was published on Thu 15 Mar 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Improving the lives of our members and customers in the Police and Military families is at the heart of everything we do and, with no shareholders, it means our focus is firmly on the people who protect us.

    Take a look at our latest Group report which demonstrates our ongoing commitment to making a difference to the financial, physical, mental and community wellbeing of those who work in the Police and Military and their family members.

    Get the report

    Please note that this file is 8MB

    Chris Morey

  • Police Mutual – Our Privacy Promise

    Police Mutual – Our Privacy Promise

    This article was published on Thu 01 Mar 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Everything we do is for the benefit of those we serve. This covers everything from our products and services to our wellbeing assistance programmes, free financial education talks, community sponsorship projects and even our prize draws and free giveaways.

    As you probably know, we like to keep in touch with our members. And we know that many of our members like to keep up-to-date with our latest exclusive offers and news.

    In a world where people and businesses share an increasing amount of information, we never take it for granted that our members place their trust in us.

    Data protection laws are changing this year

    From May 2018, new rules mean that we won’t be able to keep you up-to-date with all the great things that we do unless you give us specific permission to do so. Over the next few months, we’ll be getting in touch so we can continue sending you the updates you care about. This will give you the chance to tell us if you’re happy to hear from us via email, phone, letter or SMS (or all of these!).

    We also understand the importance of protecting all the personal details and information we hold for our members. That’s why we have pledged the below promises:

    1. We promise to be open and honest with you about how your data is used
    2. We promise never to sell your data
    3. We promise to make it easy for you to access and correct your data
    4. We promise only to contact you about the things we think will be of interest to you – if you’ve ever had enough, just tell us and we’ll stop
    5. We promise to have effective protection in place to keep your data safe and secure

    If you’d like to learn more about our Privacy Policy, just click here.

    Chris Morey

  • How to Avoid Being a Victim of Identity Theft

    How to Avoid Being a Victim of Identity Theft

    This article was published on Thu 01 Feb 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    This is commonly referred to as ‘identity theft’ and often leads to ‘identity fraud’, which is when criminals use stolen identities to obtain goods and services dishonestly.

    This can involve taking out loans, claiming state benefits, opening a new bank account, taking control of an active current account, registering for credit cards, and signing up to contracts for items such as mobile phones. They can even obtain a new passport or driving licence using a victim’s identity.

    Identity fraud victims can lose a lot of money and have their credit history negatively affected, which can also have an impact on their future finances. With this in mind, the best thing you can do to stop the fraudsters in their tracks is keep your personal details secure…

    Dos and don’ts – protecting your identity

    DO:

    1) Install the latest antivirus software on your devices and regularly check for updates (even when you have selected an ‘automatic update’ option).

    2) Shred any receipts, bills and delivery labels that display your personal information.

    3) Regularly check your credit report for entries you don’t recognise. You can get your credit report from one of the three credit reference agencies: Noddle, Equifax and Experian.

    4) Take action if you receive bills or receipts for purchases you haven’t made or any notifications relating to financial activity you haven’t authorised. Call your bank immediately if there is unusual activity you can’t account for on your statement.

    5) Cancel your debit/credit cards as soon as possible if they are lost or stolen. Keep your bank/credit card company emergency contact numbers stored in your phone and written down at home.

    6) Use different passwords for every online account you have. Strong, unique passwords increase your security by making it more difficult for a fraudster to guess a password in the first place. It’s also a good idea to change your passwords regularly. Use a combination of upper case and lower case letters, numbers and special characters, and make your password a minimum of 8 characters. Avoid easily guessable passwords – for example, single dictionary words or passwords based on something people can find out about you. Try using a sentence that is hard to guess but easy to remember. And remember, if you think someone may know your password, change it immediately.

    7) End any phone calls where you’re worried that the caller might not be who they say they are. If the call is allegedly from your bank and you want to check, wait for a few minutes and call a central number from a different phone. Make sure there is a dialling tone first.

    DON’T:

    1) Share your personal information (name, home address, bank details, email address or phone number) with any organisation or individual before you know if they’re trustworthy. Make sure you only enter credit or debit card details on secure websites – look out for the padlock symbol or a URL starting with https.

    2) Trust emails if you’re not sure of the sender or the email address it has come from. Phishing emails are designed to obtain your personal information and can look genuine, with many imitating bank and building society communications. Find the phone number for the company, bank or building society online or from an official letter you have on file and call them to check.

    3) Reveal full passwords, login details or account numbers for your bank account to anyone. If speaking to your bank or building society, an official representative will never ask for your PIN or for a whole security number or password. If someone does ask for this information, don’t give it to them!

    For more information about identity theft and fraud, and to get news on the latest scams you need to be aware of, visit Action Fraud.

    At Police Mutual, everything we do is for the benefit of our members and the Police Service. That’s why we promise to be open and honest with you about how your data is used, so that you know you can trust us with your personal information. We promise to never sell your information and will only ever use it to contact you about the products you hold with us, special offers, prize draws and important updates you have chosen to hear about from us.

    Want to learn more? Access our wellbeing hub here.

    Chris Morey

  • Support After Life in the Police

    Support After Life in the Police

    This article was published on Mon 08 Jan 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Police Mutual has worked closely with the National Association of Retired Police Officers (NARPO) of England and Wales for over 30 years, supporting retired Police Officers, Staff, Specials and their families through their lives after retirement.

    NARPO is a member organisation that believes life can continue to flourish after the Police.

    With branches up and down the country, NARPO offer advice and support to their members on life and wellbeing issues, provide new work opportunities and help make the most of new-found leisure time. They strive to help their members enjoy life to the fullest after the Police.

    Membership of NARPO offers the following benefits:

    Life

    • Up to date advice and support on police pensions and state benefits
    • Access to NARPO’s travel and healthcare insurance
    • NARPO tailored car insurance from Police Mutual
    • Campaigning on the issues that impact NARPO members

    Work

    • A wide range of full and part-time positions available on NARPO’s website
    • Roles that are perfectly suited to ex-officers

    Leisure

    • Exclusive member discounts on holidays
    • Discounts on products and services
    • Networking and connecting members

    Want to learn more? Access our wellbeing hub here.

    Chris Morey

  • How to Improve Your Credit Worthiness

    How to Improve Your Credit Worthiness

    This article was published on Mon 01 Jan 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    Looking for ways to improve your credit worthiness can increase your chances of success, below are some do’s and don’ts which could help:

    Do – check your credit file: you can check your credit file at all of the three main credit agencies – Equifax, Trans Union & Experian. You have the right to access your report for a small charge of £2. It’s a good idea to check your report with all three agencies, because one might be giving different information to lenders. If you spot any mistakes, contact the relevant agency as soon as possible and ask for them to be corrected.

    Do – Get yourself on the electoral role: this is the one of the easiest ways for lenders to identify you, if you’re not on the electoral role, you could find it difficult to get credit. You can register online at any time through the Register to Vote website.

    Do – close old credit card accounts: if you have credit cards which you no longer use, contact the providers and close them. If an account is still open, lenders may think you already have access to more credit than you need.

    Do – build a positive credit history: to help you get credit in the future, you can start to build a good credit history now. Showing that you can repay your credit on time and stay within your credit limit will help show lenders that you are financially responsible. If you have never borrowed money before and have no credit history, you will have limited access to loans and credit cards. Try approaching your own bank in the first instance and ensure that you make repayments on time and in full.

    Don’t – make multiple applications for credit: making an application for credit leaves a ‘footprint’ on your credit file that other lenders will be able to see. If you’re refused credit, don’t be tempted to make multiple applications at once as this may be seen as a sign you are in financial difficulty. This could make lenders reluctant to lend to you, instead, work to improve your credit rating before you apply again.

    Don’t – let other people’s score affect yours: if you have previously held joint financial products with someone you no longer have a relationship with, write to the credit reference agencies and ask for a notice of disassociation. This will prevent their credit history affecting yours in the future. However, you can’t do this if the account is still open, so it will need to be closed or transferred into one name first.

    Don’t – be late on any credit repayment: doing this even once or twice may affect your ability to get credit for a number of years. If it is a simple case of not being organised and forgetting the payment due dates, the easiest way to tackle this is to pay everything by direct debit to ensure you are never late.

    Personal loans

    If you are in financial difficulties contact your lender and ask for help to discuss your options as soon as possible, do not wait until you have started to miss your repayments.

    If you’re already in debt and struggling to make ends meet it can have an impact on your mental and physical health as well as work and relationships. There’s no need to suffer alone! We’ve teamed up with PayPlan – an independent, FREE, debt management company – to offer you the support you need to regain control of your finances. Just call 0800 197 8433.

    If you owe money on more than one credit card or loan then a debt consolidation loan could come in handy. You can access our debt calculator to add up how much you owe and see if a personal loan could reduce your monthly outgoings.

    Want to learn more? Access our wellbeing hub here.

    Chris Morey

  • Don’t ‘Budge it’ – BUDGET!

    Don’t ‘Budge it’ – BUDGET!

    This article was published on Mon 01 Jan 2018. At the time of publishing, this article was true and accurate, however, over time this may have changed. Some links may no longer work. If you have any concerns about this please contact us

    It can be all too easy to think that budgeting is a bore. And if you’ve heard the same ‘top tips’ time and time again then we feel your pain. But don’t underestimate the power of a considered budget – if you’re able to stick to it, it can help you save for life goals and make you feel a little bit smugger for being at one with your finances.

    That’s why Police Mutual has written our quick guide to budgeting. Call us financial feng shui masters, if you like…

    What budgeting achieves

    When done properly, a budget tells you what money you’ll have left at the end of each month and what you can afford to spend. If you currently spend more than your income a budget will flag this, so it could also act as a financial warning system to stop you from getting into the trap of spiralling debt.

    Budgeting 101

    Financial feng shui lessons:
    1. Take a deep breath in, then exhale. Clear your mind of everything other than your finances. Ignore the mountain of clothes in the washing basket. Kiss that binge-watching-Netflix session goodbye for now.

    2. You’re ready to start drafting your budget. Create a budget sheet, including a monthly forecast of your spending for the year, using bills and receipts from 2017 to help you. Use Excel or a similar table format as this can make things easier.

    Remember to include amounts for any upcoming family events you know about (like weddings or birthdays) or any special occasions, and how much you think they’ll cost. It’s also good to include a contingency fund each month to help you cover any unexpected emergencies like a boiler repair.

    If you’re self-employed, don’t forget to save amounts ready to cover your NI, VAT and other tax commitments for the year.

    3. Don’t use simple categories like Shopping or Home.
    Do break them down into specifics. For example, under Shopping you might have: ‘groceries’, ‘clothes’, ‘presents’. Under Home you could have ‘electricity bill’, ‘water bill’, ‘phone bill’ and ‘TV licence’ etc. This will help you get a real understanding of where your money goes.

    4. If you spend different amounts each month on something – like your grocery shopping – take an average over three months to get a more accurate view. Just add up three months’ receipts and divide by three then use that amount for each month.

    5. Spend a few hours adding costs to your budget, making sure it’s realistic. Put it to one side, sleep on it (not literally!), and then read through it a few days later to see if you’ve thought of anything to add. Alternatively, if you’re so inclined, try meditating while thinking it through, to see if you get further inspiration. It can’t hurt and we won’t judge.

    6. When you can see how much you’re likely to spend each month, you can compare that figure to your income. Will you be in the red? Will you have to tighten the purse strings a bit? Or will you be sipping champagne in the Seychelles?

    If the outlook isn’t great, there are steps you can take. Is your electricity bill looking a bit steep? Think about changing provider and getting a better deal. The same applies for your internet, phone contracts and, well, the list is endless. Not watching films as part of your TV package? Cancel or reduce parts of it to pocket some more money.

    It can also be helpful to concentrate on budget categories for ‘Needs’ and ‘Wants’, to focus on your priorities and think differently. Could you walk to work or use public transport that would be cheaper than having a car? Are you getting a good deal on your mortgage or could you get a better deal?

    Even if your budget looks comfortable, it’s never a bad idea to save money if you can. Then you can invest for the long-term or save it as a financial safety net.

    7. Finally, most budgets don’t work! Controversial but true. To give your budget the best possible chance of being accurate you need to be honest. Do you buy a coffee every other day but don’t think it’s worth counting? Each of those coffees adds up. Do you get through yoga mats like there’s no tomorrow (while meditating about your budget perhaps)? Put it in. Only then can you see what you’re able to live without.

    Dealing with debts

    If after doing your budget you’re lucky enough to have money left at the end of every month then it’s worthwhile considering any debts you may have and create a plan to pay them off or put a little extra aside into your savings.

    If you still owe money on more than one credit card or loan then a debt consolidation loan could come in handy. You can access our debt calculator to add up how much you owe and see if a personal loan could reduce your monthly outgoings.

    If you’re already in debt and struggling to make ends meet it can have an impact on your mental and physical health as well as work and relationships. There’s no need to suffer alone! We’ve teamed up with PayPlan – an independent, FREE, debt management company – to offer you the support you need to regain control of your finances. Just call 0800 197 8433.

    Maintaining financial peace of mind

    Start January 2018 as you mean to go on! Don’t ‘budge’ the budget – become a financial feng shui pro by:

    • Staying on top of your budget – stick to what you’ve calculated and keep an emergency fund

    • Managing any debts you may have

    • Reviewing your budget and updating your plan accordingly if your circumstances change (like a job move, new house, or a new addition to the family)

    Want to learn more? Access our wellbeing hub here.

    Chris Morey