Stub out and save thousands of pounds

The annual no-smoking day on 12th March will give smokers a great opportunity to kick the habit and save themselves thousands of pounds on their insurance in the meantime.

Insurance companies consider ex-smokers to be ‘non-smokers’ a year after they have given up. Being classed as a non-smoker means that, for many types of policy such as Life Cover and Critical Illness Cover (CIC), premiums can become around 50% less expensive, so many people could still save money even if their policy has been in force for many years.

Matt Morris, Policy Adviser at Lifesearch, said: “’Do you smoke?’ is one of the first questions that an insurer will ask a new client, as a smoker will pay considerably higher premiums than a non-smoker. To be classified as a non-smoker by an insurance company you must have quit smoking for at least 12 months. At that point, you should speak to an adviser to see if they can rebroke a new policy for you at a cheaper premium. A cheaper premium is not certain, as it also depends on age and health, but there is a very good chance that the premium will fall.”

A no smoking ban in all enclosed public places - such as offices, factories, pubs and restaurants - came into force across the whole of the UK between April and July 2007.

Research showed that New York (2003), Ireland (2004) and Scotland (2006) experienced a fall in the number of smokers after a ban on smoking in public places was introduced.

The smoking ban came into force last year across the UK on 2nd April (Wales), 30th April (Northern Ireland), 1st July (England). A smoking ban in Scotland came into force on 26th March, 2006.