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Bleeeh insurance oddity

Discussion in 'Motors' started by Sin_Chase, May 18, 2010.

  1. Sin_Chase

    Capodecina

    Joined: Jan 13, 2004

    Posts: 20,525

    So being the straight up chap I am and being under the assumption less milage = less risk I phoned up to sort out my renewal due at the end of this month.

    Unemployed and back to a 5,000 limited mileage, SDP only policy to reflect my employment status.

    Limited mileage brings the policy down....but being un-employed puts it up. Apparently having no job is seen as high risk. :o

    + £100 on last years policy. Time to shop around which is, according to my telephone representative, the only way the quote will come down with a price match.

    Why is being un-employed seen as high risk? No commuting, no parking outside of garage at home, less mileage, less...well..everything. More....???? I pay annually so it's not like they are at risk of me defaulting on payments.

    Eitherway, the quote is still pretty decent but suffice to say I am unimpressed with a ~15% price hike with the job change and limited mileage. Now I have to tell them I am un-employed and probably take a price hike if I leave it on unlimited without the 5K to cancel it out.

    Bah!
     
  2. [TW]Fox

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 155,316

    Its to do with the profile of the average unemployed person. Insurance runs on generalisaton and statistics.
     
  3. Sin_Chase

    Capodecina

    Joined: Jan 13, 2004

    Posts: 20,525

    Seeing if there is anything I can non-fraudulently say other than un-employed.

    Do I actually need a company/to be registered with anything/have any proof to be self-employed? Or would that follow the same profiling anyway?
     
  4. Bubo

    Soldato

    Joined: Oct 18, 2002

    Posts: 6,577

    Location: Scun'orp

    The insurance companies seem to ascociate employment as a "sign of maturity", and probably also "less likely to take risks which may lose said job". General nebulous insurance company theories basically.
     
  5. Sin_Chase

    Capodecina

    Joined: Jan 13, 2004

    Posts: 20,525

    On average being un-employed adds £400 to my premiums. :|
     
  6. iaind

    Capodecina

    Joined: Feb 26, 2009

    Posts: 14,814

    Location: Exeter

    It's nothing to do with conscious decisions and judgements about unemployed people - there's not someone in a darkened room deciding that unemployed people are immature.

    It's simple statistics, unemployed people are more likely to crash....simple really
     
  7. Sin_Chase

    Capodecina

    Joined: Jan 13, 2004

    Posts: 20,525

    I am now a Web Designer.

    I sold a website last week. Not my insurers business if I am registered or have a company is it?
     
  8. iaind

    Capodecina

    Joined: Feb 26, 2009

    Posts: 14,814

    Location: Exeter

    It needs to be permanent employment if that's what you're declaring
     
  9. Sin_Chase

    Capodecina

    Joined: Jan 13, 2004

    Posts: 20,525

    What dictates permanent employment? If I only get work every now and then I am not perm?

    Not interested in fronting but being between jobs shafted on being type-casted as a reckless unemployed type is taking the biscuit.

    If building websites is classified as employment then I'll declare that assuming I meet the "criteria" for permanent (self) employment.
     
  10. The Mad Rapper

    Banned

    Joined: Oct 18, 2002

    Posts: 9,480

    By the same token, if one was to take early retirement from a hedge fund, would that be viewed by insurers as also being unemployed?
     
  11. MrMason

    Gangster

    Joined: Jun 11, 2004

    Posts: 245

    Location: UK

  12. Fr0dders

    Caporegime

    Joined: Oct 18, 2002

    Posts: 33,270

    Location: West Yorks

    how expensive would it be if your insurance company checked everybody's employment status and checked everybody was registered as self employed

    HR departments of large companies would never do anything but run these checks.

    Unless your planning on becomming a life long dole dosser, id just tell them your a web designer and have done with it.
     
  13. MrMason

    Gangster

    Joined: Jun 11, 2004

    Posts: 245

    Location: UK

    How expensive would it be if he loses the back end of his "Jap Rev Machine" and causes £50,000 of damage and his insurance checks to see if he's self employed ? :D

    Worth the risk for 1 phone call? I think not!
     
  14. Bubo

    Soldato

    Joined: Oct 18, 2002

    Posts: 6,577

    Location: Scun'orp

    If you are unemployed then are you claiming benefits? If you say you are self employed and have to make a claim, how easy is it for the insurance company to contact the DHSS or whatever it is now. Mind you, I made a claim 3 years ago and at no point was I quizzed about anything on the form.
     
  15. Fr0dders

    Caporegime

    Joined: Oct 18, 2002

    Posts: 33,270

    Location: West Yorks

    HMRC require you to register within 3 months

    if he's actively job seeking now, and doesnt envisage staying unemployed for longer than 3 months, then its entirely possible he's not got around to register yet, he doesnt have to till after 3 months

    equally, if your only going to be unemployed for a short while, i wouldnt bother claiming benefits either. I didnt when i was finished being a student. Cant be bothered to turn up through hoops and made to apply for jobs i dont want to apply for. I'll get a job, but on my terms thanks.

    Alternatively, do what i did shortly after leaving uni - get a job at an employment agency.

    even if they only send you one shift a week, your still employed. Because its an agency, its non committal, so enables you to earn money while you search for a proper job. I only did about 2 months of agency work before i found something.
     
  16. Gribs

    Wise Guy

    Joined: Nov 12, 2003

    Posts: 2,333

    Location: Skipton

    No, it'd be classed as being retired.
     
  17. poopots

    Hitman

    Joined: Nov 27, 2007

    Posts: 553

    Location: Nuneaton

    I'll employ you!

    I can contract you to 1 hour per year at a rate of £5.88p/h.

    Your role will be a data entry clerk, your sole responsibility will be typing pi to as many digits as you can over an instant messaging client.
     
  18. BigglesPiP

    Capodecina

    Joined: Mar 8, 2006

    Posts: 13,274

    Location: Near Winchester

    Yea you benefits scrounging, Nova crashing chav! Get a job, then get an S2000 or something. ;)
     
  19. Westyfield2

    Capodecina

    Joined: Dec 14, 2005

    Posts: 12,494

    Location: Bath

    :D


    Is being a student particularly expensive?

    I'm currently working as a Systems Administrator in my gap year, but wouldn't be surprised if come September being a student = a liability!
     
  20. BigglesPiP

    Capodecina

    Joined: Mar 8, 2006

    Posts: 13,274

    Location: Near Winchester

    Er, yea, I was in exactly this situation last September, coming out of my sandwich year. To be honest, the car moving to Liverpool was a bigger problem than me returning to "student" as far as insurance is concerned.