Finance
Managing Your Credit Score
Your credit score can play a significant role in your financial well-being. For instance, many financial institutions will look at your credit score when you apply for a loan, a mortgage or a credit card.
A low credit score could make it more difficult to borrow money or open a credit card account. It could also contribute to higher interest rates and higher insurance premiums. Read on to learn more about what a credit score is and how to keep an eye on it.
What Is a Credit Score?
A credit score is a number used to predict your credit behaviour, such as how likely you are to repay a loan on time. Credit scores are calculated from the content of your credit reports, but certain providers may use different methods and information in their calculations. For this reason, you may have multiple credit scores.
How to Check Your Credit Score
Regularly checking your credit score can help you understand the position your credit is in. It can also show you what potential lenders will see when you apply for a loan or credit card.
There are multiple ways you can check your credit score, including the following:
• Check your financial institution, loan or credit card statement. Many banks, credit card companies and loan companies will provide credit scores to their customers. You may be able to find your credit score on your statement or by accessing your online account.
• Check your credit score directly. You can have your credit scores calculated by three major credit companies for free: Experian, Equifax and TransUnion. However, a fee may be applied for more comprehensive credit checking services.
Leverage your credit score to improve your credit position and increase your chances of being accepted for credit at the best available rates.
Contact us today for further financial well-being tips and guidance.
Insurance
Tips for Car Insurance Buyers in 2023
2023 may bring car insurance premium increases and challenging renewal processes that make finding affordable cover difficult.
Here are six tips to help you offset car insurance rate increases in 2023:
1. Consider buying a low manufacturer’s suggested retail price (MSRP) vehicle.
2. Bundle your home and car insurance.
3. Choose a higher voluntary excess to lower your premium payments.
4. Ask your insurance agent if you qualify for a low-mileage plan.
5. Shop around for better rates from different insurers.
6. Rely on your insurance agent to help you determine if your cover is in alignment with your current needs.
For more car insurance guidance, contact us today.
Home
Protect your home from wildfires
Wildfires are becoming more common in the UK due to the unprecedented efforts of climate change. According to the MET office, hot summers are now more frequent and could create tinderbox conditions for wildfires. In fact, 24,316 wildfires were recorded by fire services in England from June to August 2022, according to data obtained by the press association. This was almost four times the 6,213 wildfires recorded over the same period the year before.
As summer approaches, its critical to take precautions to protect your property from the devastating effects of wildfires. Consider the following tops for doing so:
• Be aware. Proactively monitor reports of wildfires in your area through the media or local emergency services.
• Remove clutter. Regularly clear your roof, gutters and surrounding property of anything that could fuel a wildfire (e.g. leaves, dead vegetation or fallen branches).
• Store safely. Store fuel sources (e.g. fertilisers and pesticides) and firewood far away from your property, ideally at least 15m from your home.
• Conduct property maintenance. Check for spaces in your home where burning embers could become lodged (e.g. gaps around doors or between roof tiles). Remedy any defects found.
• Develop an escape plan. Consider how you might safely escape your home in the event of a wildfire nearby. Make your entire family aware of this plan and ensure they`re confident in its implementation. Conduct practice runs for this purpose.
• Secure adequate insurance. Take inventory of your personal belongings and their value. Next, review you home insurance policy with your insurance broker to ensure you`ll be adequately compensated if a wildfire damages your home or possessions. Adjust your cover accordingly.
Contact us today for further home maintenance and safety guidance.
