Pay Higher Premiums if you are Jobless
When you are left without a job, not only do you have to undergo the trauma of job loss and the tension of finding a new one, but also deal with higher Car Insurance premiums for your car. This has been emerged from a survey done by a price comparison website uSwitch which says that premiums almost rise by an average 20 percent if you are unemployed.
This price was deduced after taking 12 different quotes from several insurers, the age of the driver and no claims statistics. This was based on a male motorist from Bourne, Lincolnshire who was working till recently he lost his job from an accountancy form as an administrator. However, a 20 year old motorist was the worst sufferer only eligible for a one year no claims discount. He witnessed a rise in his insurance premium by almost 45% from £1,013.21 to £1,466.52 and increase of almost £453.31. The 20 year old driver had to bear a 21 per cent rise in his premium even with a three year no claims discount.
Another 40 year old motorist without an any claims discount had to face a rise of 22 per cent. Car insurers calculate their premiums assuming that the car would be used for traveling to the work place during the week and not to any other place. So, if a person becomes unemployed then they assume that he would be using his car more frequently either for attending job interviews or generally moving around since he has more free time. It is for this reason that the premiums shoot up for jobless individuals.
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