Change of employment status

fb1969

My current car insurance policy expires in mid-September and I will be redundant from mid-October. If I don't find another job within a short time, say a month, I will obviously inform the insurer that I am unemployed. The current insurer shows my occupation as employed/self-employed/voluntary work, so presumably if I did voluntary work I wouldn't have to tell them anything?

I am trying to get an idea of the cost for the change in status but the current online policy will allow me to make the change from today, and wants over £30 for the remaining few weeks, but won't let me put a date in next year's policy.

I've had the renewal through and get the same figure online as a new customer as I do with the renewal. But as a new customer it gives the same quote regardless of my employment status! Getting a quote from another insurer it adds about £70 for being unemployed comapred to their quote for employed.

I like to do things correctly and above board, so am wondering what the best course of action is? Renew and take the hit for the change a month later, seek out a broker (in person) and take their advice, or any other thoughts. Obviously when I do get a job I'll probably have to take a second "admin charge" for another change.

Thanks in advance

System

Try to select a policy that minimises the cost for a change in employment and with lower admin charges. Those type of policies do still exist.

Since you already know the date the change of employment status is going to happen, if you inform the insurance company when you renew (or when you take out a new policy) then they should agree to waive any admin charges since they were informed about the changes up-front. Speak to them to see who will agree to a waiver of admin charges.

fb1969

Thanks for the reply.

I was thinking that speaking would be the answer, rather than online quotes. My only "problem" is that I may not end up unemployed, I hope to get something, and I may still be hit by a further change as/if and when I find something.

Looks like I'll be making a few calls.