Car insurance warning for jobless

Fri, 23 Jan 2009

People who lose their job could see the cost of their car insurance increase, according to new research.

A study by uSwitch.com reveals that someone who changes their occupational status to unemployed can see the cost of renewing their car insurance increase by £137.77 or 20 per cent.

Ashton Berkhauer, insurance expert at the price comparison website, said: "With many providers' advertising campaigns promoting a 10% reduction in various guises when renewing car insurance, any savings an unemployed driver would make would be completely wiped out."

Anyone who is worried about losing their job should contact their car insurance provider and discuss the potential impact on their premiums, Mr Berkhauer added.

He also advised people to shop around when it comes to finding renewing their car insurance.

Yesterday, the AA welcomed government moves to clamp down on people who drive without car insurance.

Under new regulations people who keep a vehicle without car insurance face a fine of £100.
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