Increased Car Insurance - Student to Unemployed

cc461

I graduated about a month ago and am still looking for a job, meaning that when updating my car insurance renewal I have had to put 'unemployed' in the job description. I have however decreased my annual mileage from 18,000 to 8,000 as I will no longer have a commute and travel during peak times, and have another years no claims and driving experience. My car insurance has increased by over £200, which I have found out is due to being unemployed. I'm hoping that the unemployment will be temporary, but it seems so unfair I'm paying over £200 more for something that will hopefully change. If anyone has any advice I'd really appreciate it.

HappyMJ

Set up a company and make yourself a director. The savings made will pay for themselves. It can be free to set up a company and the ongoing costs of making the annual returns to companies house for a dormant company are quite low.

DavidFx

Have you phoned them?

My son is in the same boat - Graduated this year, phoned his insurer Elephant and they put his occupation as 'Graduate Seeking Employment' with no increase in premium.