ADUK Archive

If you were to become unemployed, how long would be considered a reasonable time to declare the change in circumstances to your insurer?

If you did so, what would be the impact on your premium? (I suspect typically an increase, because insurers' logic reckons that someone in a steady job is a better risk than an unemployed person, even if the latter is doing a lower mileage)

I got a quote for this at my last renewal, and it was an increase of about 300 pounds. I don't know whether they expect unemployed people to use their cars more, or just to drive worse - another way to look at it is maybe you're just losing the discount you previously had based on your profession.

However, when my redundancy actually came a few months later, and I notified them, they didn't change the premium at all - they just revoked my drive-other-cars clause. None of it makes much sense really.

Are you claiming benefits? If not then you might find selecting "independent means" gives a better quote.

does ones profession change simply because they are un-employed

My point I suppose is that the question is your professional rather than whether you are employed...

If it's a long-term thing, or you're not going to be claiming benefits, you could try "househusband" (or "housewife" or "household duties")

gannet wrote:does ones profession change simply because they are un-employed

My point I suppose is that the question is your professional rather than whether you are employed...

If you report as being unemployed you are then asked what your normal job is.

I would not put independent means - that's like putting actor, or professional footballer....... expensive!

I haven't been claiming benefits, no. I asked them about these things in some depth on the phone - they said that they don't record your profession unless you're working 24 hours a week, qualifying as part-time. I don't recall their full-time threshold.

Of course other insurance companies may differ.

michael769 wrote:

gannet wrote:does ones profession change simply because they are un-employed

My point I suppose is that the question is your professional rather than whether you are employed...

If you report as being unemployed you are then asked what your normal job is.

I would not put independent means - that's like putting actor, or professional footballer....... expensive!

I call myself retired - I don't think it leads to a significant premium loading. You can try various options on the comparison websites.

I'm self-employed and are frequently not working more than three months at a time. Currently with-out work since June. It kinda comes with being self-employed so I have no intention of telling my insurance company everytime I do a bit of work for someone...

As my insurance has now become due for renewal, I have felt obliged to inform my insurers that I have become unemployed. The charitable so-and-sos have decided to increase my premium by £150, despite the facts that I will be driving fewer miles, not driving in rush hour and not leaving my car parked during the working day on an open public car park

And a Merry Christmas to you!

Needless to say, I'll be looking round for alternative quotations, although the meerkats didn't come up with much at all.

It will be interesting to see what the IAM approved insurers say...

PeterE wrote:It will be interesting to see what the IAM approved insurers say...

They have been by far the best for me for the last three years...

couple of hundred pounds cheaper best

How does being unemployed make you a different driver?

As for putting the premium up thats really helpful, they be charging more road tax next if you dont use your car enough

IVORTHE DRIVER wrote:How does being unemployed make you a different driver?

There must be some sort of risk matrix for all employments, a lot of jobs have a premium added.

Airline cabin crew is one of the worst I've heard of a girl I worked with left her civil enforcement job to be cabin crew it added just over a third to her premium as they do long distances while tired.
Journalists and media folks (many deserve to be punished ) have a loading for similar reasons.

Standard Dave wrote:Journalists and media folks (many deserve to be punished ) have a loading for similar reasons.

You should see the loadings that professional footballers and "resting" actors have to face.

Standard Dave wrote:...Airline cabin crew is one of the worst I've heard of a girl I worked with left her civil enforcement job to be cabin crew it added just over a third to her premium as they do long distances while tired.
Journalists and media folks (many deserve to be punished ) have a loading for similar reasons.

Do insurers calculate premiums based on stereotypes of professions? I thought they based them on actuarial evidence, ie, the cost of claims from various groups of people.

Aren't the 'reasons' you suggest merely guesses as to why the statistics might show a greater or lesser risk.