Insurance Costs May be up to 5 Times More for the Unemployed

Insurance Costs May be up to 5 Times More for the Unemployed

Tips to reduce your insurance costs.

Save on your insurancePeople who are unemployed are being charged up to 5 times more on their car insurance than if they were employed. This is apparently because people who are unemployed are more likely to make a claim on their insurance.

One way around this is if you state that you are a homemaker, housewife or house-husband. This tends to drop insurance quite considerably than if you stated you were unemployed. Remember to check the insurance comparison sites each year to make even more savings on your insurance.

This problem also exists with house insurance as well, although nowhere near to the extent of the car insurance prices.

  • Always do a comparison check each year for the best deal.
  • Do not automatically renew insurance policies.
  • Join a cashback website such as
  • Look at combining house contents and building insurance into one policy.
  • For car insurance, third party only is not always cheaper.
  • If you can afford to, pay in one go to save on interest charges.

Check our money saving webpage to discover other ways to save you money.

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