Car Insurance and Redundancy

SoonToBeRedundant

Car insurance renewal is due next week and I will also be made redundant 31st January.I know that the t&c states I need to inform the insurance company of my change of employment.

Any ideas on how I can minimise the impact on charges I expect to be hit with? I assume they will charge an admin fee and a possible premium increase. Then if I am lucky and find a job quickly then I will be hit with yet another admin fee? Are there any companies with zero/minimal change fees?

Thanks

Yellabowley

I've never been charged for a change of job. My wife changed jobs recently and wasn't charged. Hopefully one of the members who work in the insurance industry will be able to better confirm it but in my experience they will only charge an admin fee if they have to issue a new certificate, so adding a driver or changing your vehicle. Your occupation isn't on the certificate so it may result in a change of premium but I would have thought that's all.


I would do the comparison searches with your current job, then run them again with 'unemployed' ticked. Just to make sure the cheapest insurer for your employed quote, don't attach a large premium for the unemployed.

trukdiver

Yellabowley wrote: »

I've never been charged for a change of job. My wife changed jobs recently and wasn't charged. .

Was that the same occupation but a different employer?

TadleyBaggie

It is highly likely that being unemployed will increase the premium, for some reason unemployed people are seen as a higher risk.

jackyann

Check your t&cs to see what time frame you have around informing of a change in circumstances.
There is a thread on here about the cheapest admin charges.

Archergirl

TadleyBaggie wrote: »

It is highly likely that being unemployed will increase the premium, for some reason unemployed people are seen as a higher risk.

Probably just because they are driving more and the car isn't parked all day. ( I do realise some working people drive in the day but it's just a thought)

SoonToBeRedundant

After searching a number of policy documents, I found one as below. Am I misunderstanding the wording or does it specifies to notify a change to occupation 'only' at renewal time? :huh:

Changes to your policy
Please advise us of the following changes either before the change or as soon as you possibly can.
a) If you sell or change your car.
b) If you change your address or where you keep your car.
c) If you want to add or remove a named driver.
d) If you scrap your car or it becomes the subject of a Statutory Off Road Notification (SORN).
e) If you are moving abroad permanently.
f) If you or any named driver receive a non motoring conviction.
g) If you modify or alter your car from standard UK specification.
h) If you want to use your car for a purpose not shown on your certificate of motor insurance.
i) If you or anyone else covered to drive is told by the DVLA they cannot continue driving.

Please tell us at renewal about the following changes:
a) If you or any named driver receive a motoring conviction,fixed penalty notice or licence endorsement, are banned from driving or change licence entitlement.
b) If you or any named driver change your occupation or business
in which you work.
c) If any of the information provided by you to us when you took out or last renewed your policy has changed or is incorrect.


Thanks

Quentin

Very clear. You only need tell this insurer at renewal time