0333 6000 290 Call 9am - 7pm Mon - Fri Email: enquiries@gocarwarranty.co.uk GO Car Warranty

Jobless hit by dearer car cover

Jobless hit by dearer car cover Image

Car insurance firms are compounding the woes of jobless people in the UK by charging them more than four times as much for their motor insurance than if they were employed, a survey has discovered.

The study by MoneyMail and comparison website Moneysupermarket found that quotes for car insurance renewals are likely to shoot up when a policyholder reports a job loss, while some firms will not insure them at all.

The companies fear that unemployed people are less likely to be able to afford to maintain the conditions of their cars with regular servicing or that they will be unable to make car credit payments.

Firms also consider the jobless to be more likely to use their cars more often in the daytime, raising the possibility of accidents or theft, and that they are also more prone to make fraudulent claims.

A newly unemployed, 40-year-old man would see his premium jump up by 442% with some firms, it is believed.

published: 22/06/2012 17:00:00

back | more from Insurance 

Request a Callback
Call Me Back


Lease or finance link image

more Car Buying Tips News

How much of a down payment should I have link image

more Car Buying Tips News

Autumn car cleaning link image

more Car Care Tips News

News Archive

link image 2018
link image 2017
link image 2016
link image 2015
link image 2014
link image 2013
link image 2012
link image 2011
link image 2010