Insurance when unemployed

anteater99

My OH was recently made redundant. First the car insurance renewal fell on the door mat - a huge increase because he's out of work - why when we have little cash to buy petrol??? Now the house contents insurance renewal has come - same again - increase premium because he's unemployed. Why when he's at home all day so the likelihood of a burglary is zero??

Can anyone explain why the increase when its at a time you can least afford it?

Also anyone know which insurance companies treat unemployed people more sympathetically?

jonesMUFCforever

How did the home insurers know that hubbie was unemployed?
Did you get a discount last year for signing up for home insurance? - Now the premium is coming up to what it should be - the only way around it is to look around for new insurance.
Same for the car insurance.

agrinnall

Are you sure the rises are due to unemployment and not simply because premiums have risen this year? Anyway, the usual advice applies, don't renew without first shopping around using MSE's suggestions for combining comparison sites and other providers to get the best result for your situation.

anteater99

Both car and house insurance had gone up so I called to see if there was any way to reduce it i.e mileage would be less on the car due to no commuting to work and on the house contents to take off the accidental damage. I was looking for any way to reduce the premium. Both companies then go through your profile and its no use not being truthful so you have to say you are no longer employed as

---

. Its then you get clobbered for being unemployed. Talk about a triple whammy! If its not enough to lose your job you then get shyster companies screwing you because you don't work.

It stinks!

FlameCloud

anteater99 wrote: »

Why when he's at home all day so the likelihood of a burglary is zero??

Really- no burglary has ever occured during the day time when somebody is in the property?

anteater99

Burglary is almost not existent in our little village and besides the lower premium was when the house was empty which makes no sense at all.

property.advert

You need to run like for like comparisons where you enter employed and unemployed to judge the impact, if there is one. Use a dummy address for this as they retain all attempt information.

InsideInsurance

The main concern of people who are unemployed, or now that credit checks are often done - are generally not in a strong financial position, is the known increased chances of fraud.... unfortunately there are people who think that it would be better for their flat screen TV to fall off the wall and get a cheque for £1,000 rather than sell it on eBay second hand for £500 when they need the money desperately. Ultimately insurance is a numbers game and they look at segments not individuals.