Graduate Car Insurance

GlennMS

I have recently finished my degree (end of September) and bought a car, and am looking to get it insured. I haven't found a job yet - without a car it is difficult to get to interviews, so I have to put myself as unemployed when getting insurance quotes.

The trouble is, being unemployed means that I would pay around £150 extra on my car insurance compared to when I was a student (around 1100+ compared to about 975). I have noticed that confused.com has an option listed 'graduate seeking emp (< 6 mth)', but when I select it I get an error and cannot continue. None of the other comparison websites appear to have such an option. I noticed Admiral insurance has this option when I visit their website direct, but they have given me a high quote anyway.

I have not been getting job seekers' allowance, instead living off the remains of my student loan until I can find work.

Does anyone know if there is a legal way I can get around this penalty on the premium for being unemployed? For example, one option is 'independent means' (I think this is probably really intended for people who live off inheritance)?

Any help would be appreciated.

TighterThanTwoCoatsOfPain

Errrrr but you're un-employed at the moment so thats what the risk is based on! Sorry! :-/

markk_2

I don't think there is really any way of getting round it, the only way is to either pay the higher premium or apply for jobseekers allowance, TighterThanTwoCoatsOfPain is right, you are unemployed so that is why the prices are higher, it is a bigger risk insuring you.

Quentin

It's a disgrace that unemployed graduates get classed as all other unemployed people!

If you have independent means, then that is the answer. All you toffs need to do is answer the questions truthfully!

Just so it doesn't come as a shock, should you become employed you will face more cost, as you have to inform your insurer of this change, and they are likely to charge an admin fee for this and possibly also increase your premium, depending on your occupation.

Gareth83

go and lie on the form !!!!!!!

do you really think they check where you work?

swiftcover never for me, they just asked job occupation, they don't request addresses, references etc.

They wont check if you crash either.

Let's be realistic about this.

nickmack

Gareth83 wrote: »

go and lie on the form !!!!!!!

do you really think they check where you work?

swiftcover never for me, they just asked job occupation, they don't request addresses, references etc.

They wont check if you crash either.

Let's be realistic about this.

I thought you were being sarcastic, but it seems from some of your others posts, perhaps not.

OP, you'd do well to ignore the above advice. Lying to get a cheaper insurance premium is fraud.

carol120401

Gareth83 wrote: »

go and lie on the form !!!!!!!

do you really think they check where you work?

swiftcover never for me, they just asked job occupation, they don't request addresses, references etc.

They wont check if you crash either.

Let's be realistic about this.

Bit daft admitting to being a "fraud" online...

There are loads iof anti-fraud measures in place now within Insurance Co.s so let's hope you don't come unstuck for your sake.

rudekid48

Gareth83 wrote: »

go and lie on the form !!!!!!!

do you really think they check where you work?

swiftcover never for me, they just asked job occupation, they don't request addresses, references etc.

They wont check if you crash either.

Let's be realistic about this.

Great advice on a money saving website !! This will help ALL Insurance Companies to save money by not having to pay out any claims if people follow your advice.....idiot.As for the original question, what relevence is a degree to being unemployed? If you are not working (and not retired or suffering from ill-health), then you are unemployed. I have to say that you come across as being a bit up yourself by implying that you are somehow superior and deserve preferential treatment to other people who are unemployed just because you are a graduate. Do the rest of us owe you a living now that we have finished paying for your education?

GlennMS

I am up myself, because I asked for advice on saving money in a money-saving forum? What a friendly, helpful informative bunch you all are.

I should note that there are plenty of factors - including distinct categories of unemployment - which influence the cost of insurance, and I doubt that the same hostility would have been extended to someone looking for cheaper home owner's insurance, or cheaper unpaid carer's insurance (are they all toffs too?).

As it happens, the Graduate Seeking Employment option from Admiral was the cheapest option in the end. None of the other insurance companies I tried had a comparable option, although 'independent means' generally comes out cheaper than unemployed.

If any students are reading this, I would encourage them to arrange their insurance before their degree finishes, unless they already have a job lined up.

Quentin

Your encouragement should come with a caveat.

You need to inform your insurer about any change of occupation as soon as possible (eg if you change from being a student to a "graduate seeking employment" or plain old "unemployed").