Car Insurance Job Picker Discussion

lee_rees

I work as a stock trader from home.

On insurance sites there is only the option of currency trader and stock broker. Although I trade shares I am not a broker because a broker is somebody that provides a service to clients, I have no clients and trade through a broker. My job title in the industry is stock trader which doesn't show up.

I do trade currency aswell, however for tax purposes currency trading is my 2nd job. As my currency trading is fully automated I spend less hours working as a currency trader, whereas when I trade stocks I work upto 3 hours per day.

What do I put for job title on the form, so as to not invalidate my insurance?

kdiver

Hi

I recently contacted my car insurance provider to find out how my premium would be affected if I started self employment with FM Cosetics (it is like kleeneze or avon etc), network marketing and catalogue distribution/ sales and they said that because I would be delivering goods that people would have ordered that it would be classed as courier-catalogue distribution and that they would not be able to insure it.

I do not think this is fair considering I am full time employed. I do not think these kinds of self employment should be classified like this. Should I write in explaining the situation fully to find out what the correct classification would be? I do not want to start and not have insurance?

Has anybody else any experience of this?

Thanks in advance.
Katie

kimquotes

This would really happen mostly on insurance company. But when you are not in doubt which you could take all the possibilities then there's no turning in and out.

Badvoc

I've just changed my job. Before I was a traffic warden (well, civil enforcement officer but they don't have a box for that), now I've moved to a desk job and described myself as a customer advisor, which is a big part of the new job, and according to the job picker should work out cheaper. Instead, I was told by Budget insurance (part of BISL) that my premium would increase by £155 per year!

Now, how the hell can a relatively anonymous customer advisor in an office be more of an insurance risk than a traffic warden? It's ludicrous! I spoke to the manager who gave the usual guff about it all being the underwriters fault. She shaved the increase down to £121.46 but still couldn't satisfactorily explain why a traffic warden is less of a risk than a customer advisor. I can only think that the insurance companies have seen the job picker page and altered their risk criteria so as to avoid losing income.

Oh, btw, I also got a £25 charge knocked off from last week when they told me I hadn't returned my credit agreement. I had, along with the previous certificate but they are claiming they haven't received it and wanted another £25. I'm now vowing never to use BISL again, but cancelling the policy and going elsewhere will cost me £104. I'm basically stuffed either way.

Badvoc

Further to my earlier comment, I have now told Budget Insurance (BISL) to stick their insurance. I have got a quote from First Direct (not someone who I would have normally considered, but their interest free monthly payments persuaded me) for, get this, £228.11 CHEAPER for the whole year (on a Toyota Avensis in case you were wondering). The quote was so much lower that I was tempted to pay the whole amount up front, but as it's interest free what the heck. Even after BISL's cancellation fee they're still over £100 cheaper.

Discogod

Am wondering what people think about the industry i should be in... I do some work as a steward at events such as concerts and sometimes festivals (it isn't always music related - i also did stuff for the jubillee and torch relay).

On some comparison when i enter 'steward' and 'entertainment' industry it pretty much doubles my price. I do not provide entertainment to anyone, there doesn't seem to be a 'service' industry that i'd place myself in.

Anyone?

dacouch

Do you have a SIA licence?

Are you employed by a security company ?

Discogod

dacouch wrote: »

Do you have a SIA licence?

Are you employed by a security company ?

no SIA and yes... i guess they are a security co to some degree since we protect equipment & venues & restrict access to set people.

I think security is a good shout & brings the premium back to the usual level! thanks

dacouch

Ring the Insurers to check before committing, make sure you make a note of the person's name and the date / time of the call.

Steward would normally be the Steward who runs a working mens club to an Insurer. You may find if you enter "Steward" and then employers business as "Security" you may find a more accurate quote. But as I said above most Insurers would regard your type of Stewarding as being akin to being a security guard

Aluaka

I currently work for an Insurer as an Account Manager (not car insurance though!). I have accepted voluntary redundancy and my last day of working will be 11th December, after which I will lose my company car and have to purchase my own car.

As I will be receiving a good redundancy package (at the age off44) I will be choosing to take few months out to consider my future employment options before getting back into work.

So, will I be:-
- unemployed (as I won't be signing on for some time if at all, and won't be seeking employment for a while)
- househusband (as my girlfriend, not wife, who I live with is working full time and I will be at home most days doing housework, DIY and probably installing a kitchen. We have no kids if that makes a difference? And are not married!)
- self employed - and if so as what? As I may dabble in ebay re-selling and register as a self-employed business.

I'd be interested to hear views on my car insurance status.

The variation in prices of quotes is shocking, with some companies declining to insure unemployed people!

I also question where I stand in terms of no claim discount as I have had a company car for 6 years?