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Insurance and retirement


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#1 Ozzie

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Posted 27 January 2017 - 09:03 AM

this is for the forum senior members !


well I've just retired , a little early :)

haven't told the insurers yet , could I expect an increase or a reduction in premium ?

#2 granpa

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Posted 27 January 2017 - 09:56 AM

Made no difference to me, think they ideally want to see a reduction in annual mileage which they could interpret as very little driving in peak hours



#3 stimulator

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Posted 27 January 2017 - 10:19 AM

Car insurance is a mind game. Read all the bumpf and you will be confused.

These days they like

Low annual Mileage
Social Domestic use only
A named driver over 21 on the policy
A small engine popular car.
Kept in locked garage or on drive (NOT on road)

If you have stopped commuting and think that your annual mileage will reduce then TELL them. However some will charge you £25 to change policy. read your policy it will say somewhere if your circumstances change YOU MUST tell us, you are no longer employed but retired so your have changed.

later this year an increase in insurance tax is being levied, some comparison sites advocate , changing your policy NOW and cancelling the old one and get a rebate.

THERE IS NO SUCH thing as LOYALTY anymore. I change my insurer every year as the renewal will be at least £75 to £100 more with the company you are with. have a look at the comparison sites and compare the company you are with to your renewal notice.
Last year I got fully comp, legal cover, curtesy car, breakdown all for £40 less than just the renewal with no extras.

If your policy states curtesy car same as you own, then beware if your car is a 4 year old C4 Pic then that is all they have to offer you under the contract. However if it just says curtesy car, then if you own a C4 Pic you may end up with a smart car, which may not fit all family but is a car.
17 Reg C3 Saloon Flair 1.2 110BHP
Previous Xsara Picasso 20HDi, C3 SX 1.4HDi, C3 SX 1.6HDI, C4 Picasso 1.6HDi VTR+ EGS 62 Reg C3 Picasso VTR+ 1.6 HDi 92BHP

#4 granpa

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Posted 27 January 2017 - 11:06 AM

When you have got the comparison quotes go back to your original company and ask if they will match or better your cheapest, I was successful on one occasion but parted company at the next renewl



#5 Avon

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Posted 28 January 2017 - 08:02 PM

Don't describe yourself as out of work, unemployed or retired, but as a House Husband. I makes a big difference to the price quoted which I found out when I ceased employment aged 59. Don't ask me why it is so much lower, but it is. I think I got the advice from the Martin Lewis Money saving Forum.

 

 


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#6 stimulator

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Posted 28 January 2017 - 10:26 PM

Didn't see that as an option in the drop down menu non compare the meerkat. In work out of work, unemployed, retired
17 Reg C3 Saloon Flair 1.2 110BHP
Previous Xsara Picasso 20HDi, C3 SX 1.4HDi, C3 SX 1.6HDI, C4 Picasso 1.6HDi VTR+ EGS 62 Reg C3 Picasso VTR+ 1.6 HDi 92BHP

#7 Ozzie

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Posted 29 January 2017 - 05:04 PM

been having a look at the MSE car insurance job picker ,
how different jobs or even wording affect premiums

http://www.moneysavi...picker/#sectors

not to be taken too seriously but in my case I should have kept working !

of the not in work options househusband is slightly cheaper than retired and most expensive is unemployed

#8 granpa

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Posted 29 January 2017 - 05:19 PM

Where would Getaway driver / drug dealer come in the list, but setiously never ever seen House husband in any insurance company list