marital status

mirkle

Just spent ages on the phone answering questions about the six people (including me) who jointly own the freehold of a building I want to insure. Can anyone explain why whether someone is married or not, or whether they work in TV or advertising, is important when the most significant aspect of insuring a building is the nature of the building itself, surely ?

paddyandstumpy

In a word; statistics.

The premium is based on the risk presented, and rather than apply a blanket premium to all risks which are the same (i.e. 3 bed houses) insurers differentiate risks by the variants in it.

Marital status has driven different loss ratios with whichever insurer you're quoting with, hence they want to capture the info and rate accordingly.

Same with occupation.