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Car Insurance & Redundancy
Bluebell_Mel
Posts: 34 Forumite
Hi, insurance is up for renewal and I need to start looking and sorting by next week.
However, I got made redundant in November and am taking some time out before I decide what I want to do (if anything).
Do I need to say that I am 'unemployed' or can I say I've 'retired'.
Would this have an impact on my insurance premiums?
Understand that I can't say that I am 'employed' as this isn't true.
Thanks
However, I got made redundant in November and am taking some time out before I decide what I want to do (if anything).
Do I need to say that I am 'unemployed' or can I say I've 'retired'.
Would this have an impact on my insurance premiums?
Understand that I can't say that I am 'employed' as this isn't true.
Thanks
0
Comments
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Hi Bluebell, are you claiming any unemployment related benefits? If so guess you're technically looking for work but unemployed0
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No, self funded. Was told by FA that I could 'retire' but young to do so0
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Are you retired, or are you unemployed? That's your answer.0
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Unemployed attracts a higher insurance premium so if you are not claiming job-seekers; I'd go with retired. Then if you decide to work again well you just changed your mind; that's all.0
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That's what I thought........do you reckon age would have an impact? Under 50.0
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Shouldn't matter; who is to say you are or aren't retired but yourself?0
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Presumably you go with your current status you would have advised when you called them to report the change of circumstances last November.0
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Been quoted ridiculous amounts from some including comparison websites (£900+). Have listed as a home maker as I'm not a housewife.
Looks like its going to be Direct Line £450 with the extras.0 -
Had the same query,unemployed is the correct activity to select in the drop down box.
Better still visit an insurance broker and discuss your needs,saved me so much cash !0 -
Bluebell_Mel wrote: »No, self funded. Was told by FA that I could 'retire' but young to do so
Unemployed is someone not working and claiming benefits
not working is someone choosing not to work but intending to go back to work later
Retired is someone that has given up work without a current intention to work again.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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