Car Insurance?

wellused

When you retired did your car insurance go up or down because you no longer worked for a living?

scotsbob

Down. I am running a 2 seater sports car for £190 fully comp with protected no claims.

Retired means no commuting, car will be in garage at home more frequently and 55-70 is usually the age group with lowest premiums.

dzug1

I'm not aware it changed, though logically maybe it should have done.

wellused

Thanks for your replies, I only ask because I heard of a gentleman who lost his job and when he informed his insurance company they increased his premium, I wondered if retirement had a similar outcome.

missile

Maybe that insurer considered unemployed to be a higher risk?

Newly_retired

Mine went down.

John_Pierpoint

wellused wrote: »

Thanks for your replies, I only ask because I heard of a gentleman who lost his job and when he informed his insurance company they increased his premium, I wondered if retirement had a similar outcome.

That often happens, the owner is no longer settled into their way of life and likely to cause hassle for the insurance company.

There might be little jobs done on the side, even some courier or parcel work :eek:

There could be journeys to job interviews and believe me there is nothing worse than driving in a strange town in its rush hour - get carved up from all angles and in the jam you haven't even got to the signs for the junction to know which lane you should be in.

Then there is the lack of money pressure on the car - its just failed the MOT and the no MOT = invalid insurance = overdue car tax cycle is threatening.

All organisations like nice steady wage slave customers, that are established in their job and in their own home.

wellused

That's the type of excuses the insurance company used to explain the price hike, having less money so could skimp on servicing the car changing tyres e.t.c. looking for jobs in unfamiliar locations. But as the driver said, "I am the same person that they Insured before and why would I neglect my vehicle just because I was unemployed, surely those with work but large debts are more prone to do that sort of thing"?

missile

I would suggest it is one size fits all, i.e. the risk profile for the average unemployed person is higher risk than one with a safe job.
In the same way one could argue, many young drivers are very careful, safe, considerate and courteous, but some are not.