Outraged at 100% increase on Motor insurance for Unemployed Covid-19, classed as HIGH RISK

ripplyuk

Car insurance has always been higher for the unemployed. It’s a double whammy. You lose your job, the car insurance skyrockets, then it’s much more difficult to find another job because you can’t afford to drive anymore. It’s part of the ‘poverty trap’. 

Maybe now with so many people being affected, there will some sort of change or improvements. I doubt it though. 

unforeseen

I am a professional Senior Manager

Do you get amateur or unprofessional Senior Managers? 

adonis

when I was unemployed some years ago my insurer aviva said there wouldn't be a increase in premiums for being unemployed.

It might have changed now though.

unforeseen

And then they REALLY screw you when you claim and the lies come light

Thrugelmir

Perhaps the bigger issue is that it's a van not a car. 

dunstonh

I’m not sure if you are aware of the scandal brewing in the Car insurance industry ??

There is no scandal.

 I used “Compare the  m------”  and put down that I was unemployed in still asked what I did so I put Operations Manager.

are you sure you read that correctly?   Sometimes they ask your job and the profession it is in (as its not always clear).   You may have given them a conflicting answer.

His words then astounded me, none of the normal insurance companies deal with unemployed, there was only 1 , and that would now be  be £480 pounds, £223  for employed + the £150 compulsory went to £480 +  £400 compulsory

Not quite.  None of the insurers they deal with may not offer terns but it doesn't mean all don't.   Comparison sites do like to cherry pick the easy stuff.

Also, you say it is a van.  Comparison sites are not as strong on vans as they are cars.   So, the number of insurers offering car insurance for vans will be fewer.   Maybe van insurance would be more suitable for a van than a car policy that has some van coverage.

And the words he used Unemployed are High Risk

Which is quite correct and well known.

I’m shocked at the  Broker,  but I’m even more shocked by the insurance world capitalizing of the back of COVID 19 , doubling insurance of economic victims of the crisis
I’m shocked and disappointed

You are adding 2+2 and getting 5.  

Unemployed are higher risk and the premiums are increased to reflect the risk.  Covid is not causing insurers to change their premiums in that respect.  Increased fraud risks for example.

Also, you may have triggered their anti-fraud software as your disclosure was not accurate.  That leads to increased pricing and when you get multiple higher risk issues, the rating can be even greater.

Grumpy_chap

MeowMeow1988 said:

I must have been one of the lucky ones to fly under the radar as I have been on a social domestic pleasure policy for 6 years with driving convictions and using it for delivery also for the past 5 years, I just simply refuse to give them extortionate amounts! I have had a cancelled policy too, I tell them nothing. 

Unemployed basically have no money, so lets charge them more? Insurance is just pure ripoff that's how I see them all.

All bad, and incorrect, advice.

GDB2222

The link between the comparison website and the insurance company is not perfect. You really need to check carefully that the information the insurance company received is 100% correct before proceeding with the policy.

The insurers don't really know why 'unemployed' means a higher risk. It may be because of lack of maintenance, or there could be other reasons. All the insurers can do is analyse their claims data. Possibly, they could do more to sort out the wheat from the chaff. For example, I have sympathy with the OP that his riskiness has probably not suddenly doubled in the 8 weeks since he was made redundant. However, the analysis costs money, and there's no compelling commercial reason to do it. 

diggingdude

Jeremy535897 said:

Universal credit/benefits in general have never really been enough to love on.

Quite the reverse I think (couldn't resist, sorry).

I have to buy my love Mrs Diggingdude had expensive tastes 

wanttobethrifty

And do you have business insurance????