Car insurance renewal - unemployed / current not in employment

fleemkt

Just wondering what peoples' thoughts are on this - car insurance and unemployment.

Do you normally advise insurance companies that you're currently unemployed, however temporary this may be?

Or do you just leave it.  What's the worst that can happen; whether or not you claim?  Do they (how) verify your employment status?

DUTR

What is the actual wording of the question on the proposal form?

Car_54

Your occupation is one of the factors underwriters use in calculating risk, and hence the premium. They therefore normally want to be notified of any change of employment (read your policy documents). Anecdotally, some insurers view unemployment as higher risk - perhaps because you have an extra 40 hours a week in which to crash!

I guess the worst that could happen is that they find out you haven't told them, probably on investigating a claim. If they were to cancel the policy as a result, you'd have to declare it to every future insurer - for ever.

Sea_Shell

It can depend on how and why you are unemployed.

I currently do not work through choice, so I've declared as a housewife.   I could call it retirement, but I'm a bit too young!

If you were claiming any unemployment benefits, then you should declare as unemployed.

Will your new job be in the same occupation category?

If you literally have a week or so between similar jobs, then it's doubtful anyone would declare that.

But with most things insurance, telling them is usually the best option!!

missile

Are you are recently unemployed? I would suggest you are between jobs and go with whatever your last job was.
If you have been unemployed for more than say 12 months, I would declare it.

sweetsand

Dear OP
Tell them as it's a big change according to insurance co's. If it's a big, well respected co and you tell them that you are not working for a week or two and start work in 2 weeks, they won't charge you anyhting. You have to tell them and please do not take a risk.
When you ring them, take the persons name you spoke with and the town or city they are in along with the dtae and time of the call
ATB

CocoM2020

Town or city? Why would you need that? They could be working from home and may not want to give out that information. And they normally give their name when they answer. 

Mercdriver

I wonder why one poster always has an obsession with big companies?  Just because they are big doesn't mean they are better. 

fleemkt

Thanks for the replies everyone.

Back in the first quarter of this year, I decided to take a break from work.  I haven't - and don't intend to - claim any unemployment benefits.

This topic's come about because my insurance renewal is due soon and it's not even crossed my mind previously.  I want to do the right thing, but don't particularly wish to be charged 50% more in me doing so!  I'm not actively seeking employment and due to the current situation, I won't be driving around much.

I don't think I've even done 100 miles since the start of this year!

 

Sea_Shell

fleemkt said:

Thanks for the replies everyone.

Back in the first quarter of this year, I decided to take a break from work.  I haven't - and don't intend to - claim any unemployment benefits.

This topic's come about because my insurance renewal is due soon and it's not even crossed my mind previously.  I want to do the right thing, but don't particularly wish to be charged 50% more in me doing so!  I'm not actively seeking employment and due to the current situation, I won't be driving around much.

I don't think I've even done 100 miles since the start of this year!

 

How old are you?   Could you realistically be "retired"?

Otherwise if you are choosing not to work could Homemaker/House(wife/husband) fit the bill?


What are you living off, partners income, savings, investments?

daveyjp

Occupation is a material fact, I.e your premium reflects the information provided. As soon as there is a change your insurance needs updating.