Insurance - semi-retired. What occupation should I give for insurance quotes? 18 October 2022 at 9:23AM in Insurance & life assurance 6 replies 142 views

kiomuk

I'm moving back to the UK from Jersey, and will be largely retired but doing some training and consultancy in the Risk & Compliance field (home based).  My current insurance has me as 'Compliance Officer' which is what I actually was and is the closest fit from what I can see.

Q - Should I continue with 'Compliance Officer' or say 'retired'?  What difference would it make?

kiomuk

kiomuk said:

I'm moving back to the UK from Jersey, and will be largely retired but doing some training and consultancy in the Risk & Compliance field (home based).  My current insurance has me as 'Compliance Officer' which is what I actually was and is the closest fit from what I can see.

Q - Should I continue with 'Compliance Officer' or say 'retired'?  What difference would it make?

I should have mentioned that I am looking for home (buildings and contents) and separately, motor insurance

DullGreyGuy

How many hours are you doing working?

Most places allow you to select a primary and secondary occupation and so if you feel you are basically retired but doing occasional bits of work you could declare it as such

Smithcom

kiomuk said:

I'm moving back to the UK from Jersey, and will be largely retired but doing some training and consultancy in the Risk & Compliance field (home based).  My current insurance has me as 'Compliance Officer' which is what I actually was and is the closest fit from what I can see.

Q - Should I continue with 'Compliance Officer' or say 'retired'?  What difference would it make?

 You cannot simply say 'retired' because you're not retired, at least not fully.   You will need to comply with CIDRA which is the most relevant legislation which governs disclosure by private (non-business) policyholders. (Consumer Insurance Disclosure and Representation Act).

As DGG has mentioned, you could include two occupations.   One being retired, one being your part-time occupation.  But if that's not an option, you should simply have your (part-time) occupation as your main role.

Make sure your car insurance includes business use, unless you're simply commuting to the same place of work each day.

SC

kiomuk

Thanks for the comments.  Having now obtained quotes (which wasn't easy given the postcode isn't fully established) I was advised to state retired as the only work I would be doing from home would be clerical/office.

Smithcom

kiomuk said:

Thanks for the comments.  Having now obtained quotes (which wasn't easy given the postcode isn't fully established) I was advised to state retired as the only work I would be doing from home would be clerical/office.

Interesting.   Hope you kept the person's name/time of call.  

Please also bear in mind that almost any client visit/training meeting would necessitate business use on your car insurance

SC

maisie_cat

I would say that semi retired is simply part time working. When I was semi retired I was advised to use the occupation of the home based part time work.