It’s not surprising that a less-than-perfect driving record or driving a luxury sports car will result in a high insurance premium. However, there are a number of factors which can influence insurance rates. Insurance companies can get really nit-picky when it comes to assessing risk, which is why quotes can vary drastically between firms. One insurance company may place a high statistical value on living in a neighbourhood with a low incidence of accidents, while another may focus on your parking situation. If you’ve received quotes that are higher than you like, the following are a few surprising reasons why this may be the case.

1. You live in the wrong zip code.

Two drivers with clean driving records and the same make and model of car may pay vastly different rates, simply because they live in different locations. In some cases, moving to a different zip code only a few miles away can reduce your rates significantly. Rural areas with little traffic tend to incur lower rates, as areas with high traffic are the scene of more accidents. If you’re confused about how location impacts your premium, it’s worth looking at online comparison tools and enter in a few neighbouring zip codes to see how they measure up.

2. You drive a car with high horsepower.

Naturally, a Porsche will cost more to insure than a Ford Focus. However, in addition to the make of car you drive, its engine power also impacts insurance rates. A four-cylinder car will generally cost less to insure than a six-cylinder car. You can compare the engine speeds and specs of various models using tools like www.carsales.com.au to find a model that’s cheaper to insure. The results may surprise you!

3. You have a low credit score.

It makes sense that a lower credit rating would lead to higher interest rates in terms of car financing, but did you know that this also has a bearing on your insurance premiums? Statistically, people with low credit scores are more likely to get into accidents than those with high scores. As a result, insurance companies tend to weigh this factor into their premiums.

4. You have a high risk occupation.

Your education and job also can impact your insurance rates. If you work in an industry that’s associated with a higher statistical risk of collision, such as those involving long hours on the road, this will result in higher fees. Blue collar workers and those that work swing or night shifts tend to pay more.

5. You are single, divorced, or have children.

Drivers who are single, divorced, or separated may see a slight increase in their insurance rates, as will those who have children. However, not all insurance companies weigh this factor into their assessment.

6. You park your car on the driveway or street.

Cars that are locked up in a garage at night are less likely to be damaged by the elements, vandalized, or stolen. As a result this leads to lower insurance rates than those that are parked only a few feet away on the driveway.

When it comes to insurance rates, it’s the small things that matter. It’s also important to remember that every insurance company uses a different, unique formula to assess risk. This is why it’s best to compare quotes from several different providers in order to find the one that’s most favourable to your personal circumstances.

If you took a look inside my closet, you would see that I don’t have a lot of clothing to begin with.  My partner’s portion of our closet is filled with much more clothing. Despite the fact he keeps saying most of it is ugly, he doesn’t bother to get rid of things he doesn’t like or wear anymore.

Closet Purging

A few months ago, my sister helped me do a closet purge. Since she is the more fashionable one, the purge felt like something right out of a “What Not to Wear” episode. I tried to justify keeping some articles of clothing and a few things she said were: “Get rid of it.” “You have too many hoodies and too many things with flowers on them.” “That’s ugly.” After we were done, my closet looked even emptier, but at least it was filled with clothing I wore quite often. The clothing I had gotten rid of was donated to the Salvation Army.

Clothing Swap

Another great way to get rid of your clothing is have a clothing swap amongst your friends. It forces them to clean out their closet. However at the same time, it may give them an excuse to buy some new clothing. 😉

A good friend of mine held a clothing swap a couple of times. Everyone brought clothes, bags, shoes, jewelry and accessories such as belts and scarves that they didn’t want any more to the clothing swap. Even if your friends are not similar in size, they could still try on certain accessories and check out the hand bags.

It was a lot of fun trying on different clothes and the best part was not having to pay for the “new” (new in the sense that it’s something different for you to wear) clothing you could add to your wardrobe collection. The clothes that didn’t get snatched up were donated to a local charity.

Clothing swaps are a great way to get rid of clothing, get some new clothing and a frugal way to spend time with your friends and perhaps make some new ones.  I found the clothing swap was a nice change from having the usual potluck or movie night. What made it even better was that because it was a free swap, if I didn’t find anything I liked or that fit, I didn’t feel bad.  Most of all, I enjoyed the friendly fashion advice from other guests.

Here are a few tips I picked up from the two clothing swaps I went to:

• Although this may seem obvious, I still think it’s a good idea to remind guests that the clothing they bring should be clean and in relatively good condition. Ask yourself if you would want your friend to wear this. Besides, what fun would it be to look through clothing full of holes, tears, and stains?
• Like any party invite, give them a decent amount of advanced notice to give them time to clean out their closet.
• Space is key. Make sure you have a lot of space to display the clothing and people aren’t crammed together while they try on clothes.
• Have decent lighting and a full length mirror or two in which guests can see themselves in the entire outfit.
• Display accessories on a table.
• Group similar types of clothing together and if possible within that group, separate the clothing based on size, making it easier to sort through. This is especially useful when you have a large amount of clothing.
• Make it more fun by serving some light refreshments and snacks. Food at any gathering is a must! (At least for me it is).

Have you ever hosted or attended a clothing swap?