http://comparethemarket.com 1m 273 #carinsurance Emma Mortimer
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UK unemployed rates are at their highest. In fact, between March and August this year, the number of people claiming unemployment benefits rose 120% to 2.8million…
On top of that, new research
reveals that those who are unemployed will pay up to 40% more for their car insurance, and various ‘key workers’ may also pay a steeper price.
The research, compiled by comparethemarket.com analyses hundreds of insurance quotes to discover how job title affects premium price:
Top 10 most expensive professions for car insurance
Most expensive professions for car insurance
Cost of Insurance (Average)
Carer – Professional
The average policy for those who are unemployed worked out to be £571, 40% more expensive than those in work and 54% more than the cheapest profession (HGV driver).
The cheapest professions for car insurance include drivers (HGV, lorry, bus and fork lift truck drivers) police officers and engineers.
“With millions expected to be made unemployed around the UK as a result of the pandemic, this research indicates that these individuals may face the increased financial burden of higher car insurance costs at a time when they can least afford it. If driving is unaffordable for this group, this could have a serious impact on their ability to secure another job, with our research showing that 54% of young drivers saying that not being able to afford to run their car will negatively impact their ability to get a job.”
You can find the full press release and quote below this email.
You can see the full research here