Car insurance in retirement

Quentin

All you can do is comply with the policy ts + cs, as failure to do so, (especially regarding giving your correct occupation - a material aspect, which the policy will specifically say they need to know about any change), just allows them the opportunity to try and void your policy in the event of a claim.

mikey72

Self employed is a good option if you don't want to fully retire yet. You can always do contract jobs, short term work, or decide to have a few duvet weeks. Just declare you're self employed to the tax man, and fill in your tax return once a year. Even if it's zero.

kento_2

PREMIUMS ARE GREATER FOR THE RETIRED.

My wifes premium did increase upon retirement which was proven because she received a renewal quotation based upon her employed status.

She was a teacher and inserting retired as her employment category increased her premium significantly. The situation is exactly the same as that for unemployed, which is getting a lot of coverage at the present.

Even after removing business and commuting cover and reducing annual mileage the premium she paid was still higher than in the quote she received as a teacher.

Frozen_up_north

My insurance with LV was no different between being an employee, with full business use, and retired.

McKneff

I retired last September and never gave a thought to inform them, anyway, my insurance is up for renewal in June and I rang them to renew and change details, They upped the premium by £40 which was 20% up on the old renewal cost. . They said I was a higher risk, I said that was stupid because I was not going out in my car 4 times a day now.

Anyway, I got them to reduce my annual mileage and this took £25 off the cost, although up to now I havent actually renewed.