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JohnDale
Joined: 19 Mar 2008
Posts: 790
Location: Kelvin Valley,Scotland
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 Posted: Wed Mar 28, 2012 4:17 pm Post subject: Insurance |
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Just heard today of a guy refused classic insurance because he was honest & admitted being unemployed - a new one on me. Anyone else heard of anything like this,cheers,JD.
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1958 Ford Zephyr Mk2 Convertible
1976 Ford Granada Ghia. |
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Rick
Site Admin
Joined: 27 Apr 2005
Posts: 22447
Location: UK
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MikeEdwards
Joined: 25 May 2011
Posts: 2471
Location: South Cheshire
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| Posted: Wed Mar 28, 2012 6:36 pm Post subject: Re: Insurance |
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| JohnDale wrote: | | Just heard today of a guy refused classic insurance because he was honest & admitted being unemployed |
Which of those two did they object to?  |
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JohnDale
Joined: 19 Mar 2008
Posts: 790
Location: Kelvin Valley,Scotland
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| Posted: Thu Mar 29, 2012 12:11 pm Post subject: Re: Insurance |
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| MikeEdwards wrote: | | JohnDale wrote: | | Just heard today of a guy refused classic insurance because he was honest & admitted being unemployed |
Which of those two did they object to? |
Probably being honest if they're honest!!
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1958 Ford Zephyr Mk2 Convertible
1976 Ford Granada Ghia. |
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MikeEdwards
Joined: 25 May 2011
Posts: 2471
Location: South Cheshire
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| Posted: Thu Mar 29, 2012 12:36 pm Post subject: |
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| I wonder if they're concerned about being able to get an excess payment in the event that one is required. Though being unemployed is not the same as being potless. |
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Inglewood
Joined: 28 Dec 2010
Posts: 183
Location: Stone, Staffordshire
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| Posted: Thu Mar 29, 2012 1:54 pm Post subject: |
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It is most important that the reason for refusal is absolutely clear. Simply being unemployed is a risk factor for insurers but not so severe to refuse to quote or renew. They should look at history etc and might increase the premium.
The reason for clarity is that when going elsewhere for a quote most insurers ask "Have you ever been refused insurance or had a renewal declined".
If answered honestly, this adds to the list of risks.
If the proposer feels that the declining of a quote was unreasonable he could call the FSA for advice. |
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Penman
Joined: 23 Nov 2007
Posts: 4759
Location: Swindon, Wilts.
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| Posted: Thu Mar 29, 2012 5:20 pm Post subject: |
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Hi
As it is an "I heard of today" story, we may not know the full facts.
For instance, it could be that he wanted a credit terms facility for his insurance, in which case he hasn't been refused insurance because he is unemployed, he has been refused credit.
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Inglewood
Joined: 28 Dec 2010
Posts: 183
Location: Stone, Staffordshire
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| Posted: Thu Mar 29, 2012 6:05 pm Post subject: |
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| Penman wrote: | Hi
As it is an "I heard of today" story, we may not know the full facts.
For instance, it could be that he wanted a credit terms facility for his insurance, in which case he hasn't been refused insurance because he is unemployed, he has been refused credit. |
I 100% agree |
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smiffy220
Joined: 22 Nov 2010
Posts: 329
Location: Southminster, Essex
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| Posted: Thu Mar 29, 2012 8:07 pm Post subject: |
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You'll also often find that persons try and insure an old van of sorts, declare themselves as unemployed, then do boot sales and market trading. A van for unemployed or non-business use is usually a big no no for insurers.
But for a classic car, I agree, more to this story than we've been informed.
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1980 Opel Manta 2.0 SR Berlinetta
1934 Morris Cowley Four (my late fathers) |
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Julian
Joined: 19 Apr 2010
Posts: 278
Location: Warrington
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| Posted: Thu Mar 29, 2012 8:38 pm Post subject: |
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| smiffy220 wrote: | A van for unemployed or non-business use is usually a big no no for insurers.
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Tell me about it. I run an Astra van as my daily driver as it's cheap, economical, does 80mph in a nice relaxed sort of way and is brilliant for the dogs (just flirt the puke out with a shovel  ), steam roller firebars, oil drums, bags of coal etc etc.
I have a normal regular job on PAYE taxation and the van is only for social domestic & pleasure. I had a job finding an insurer to take me on, an Astra estate would be no bother and all that's got is some side windows and a seat! 
Julian. |
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buzzy bee
Joined: 23 Nov 2007
Posts: 3382
Location: South Cheshire
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| Posted: Thu Mar 29, 2012 8:57 pm Post subject: |
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| Julian wrote: | | smiffy220 wrote: | A van for unemployed or non-business use is usually a big no no for insurers.
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Tell me about it. I run an Astra van as my daily driver as it's cheap, economical, does 80mph in a nice relaxed sort of way and is brilliant for the dogs (just flirt the puke out with a shovel ), steam roller firebars, oil drums, bags of coal etc etc.
I have a normal regular job on PAYE taxation and the van is only for social domestic & pleasure. I had a job finding an insurer to take me on, an Astra estate would be no bother and all that's got is some side windows and a seat!
Julian. |
Put some port holes in it, and a sofa in the back, then get the taxation class changed to estate, then take the sofa out!  |
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gopher
Joined: 03 Jun 2010
Posts: 10
Location: Norwich
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| Posted: Fri Mar 30, 2012 6:15 pm Post subject: |
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When renewal for my M 8 came up last year the premium increased when I informed them that I was no longer working but not unemployed either. They did honor the original quote after discussion as even they couldn't understand the increase. Will be interesting to see what they do this year.
Bill |
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JohnDale
Joined: 19 Mar 2008
Posts: 790
Location: Kelvin Valley,Scotland
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| Posted: Mon Apr 02, 2012 10:46 am Post subject: |
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| Penman wrote: | Hi
As it is an "I heard of today" story, we may not know the full facts.
For instance, it could be that he wanted a credit terms facility for his insurance, in which case he hasn't been refused insurance because he is unemployed, he has been refused credit. |
FYI - Straight forward insurance for a Morris Minor & no credit terms requested. Now insured with Highway with no problems. The ' I heard of today' part was from a member of our club, a personal friend of the chap involved, & not just gossip in the pub, cheers,JD.
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Penman
Joined: 23 Nov 2007
Posts: 4759
Location: Swindon, Wilts.
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| Posted: Mon Apr 02, 2012 11:51 am Post subject: |
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Hi John
That does make it more worrying, do you happen to know who the reluctant company/broker was?
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Bristols should always come in pairs.
Any 2 from:-
Straight 6
V8 V10 |
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JohnDale
Joined: 19 Mar 2008
Posts: 790
Location: Kelvin Valley,Scotland
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| Posted: Mon Apr 02, 2012 2:25 pm Post subject: |
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Hi Penman, Allegedly Footman James,cheers,JD.
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1976 Ford Granada Ghia. |
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