Motorist's car insurance premium rockets £231 after he loses his job
A FURIOUS motorist told yesterday how his car insurance rocketed by £231 when he lost his job.
Tony Costello, 51, was astonished when his annual premium jumped from £630 to £861 after he told his insurers Tesco that he had been made redundant.
He says the reason he was given is that he would be clocking up more miles in his car looking for work.
He said: “It’s the last thing you need when you are out of a job, It’s just adding insult to injury when you are trying to tighten the purse strings.”
Tony, an electronics manager, lost his £40,000-a-year job last month when his firm switched production to Poland. He called Tesco to tell them and was hit with a steep rise in the premium on his nine-year-old Volvo.
“They said people who are out of work drive around looking for jobs and attending interviews. The annual mileage on my policy is already capped at 12,000 miles but they said I still had to pay.
“After I became unemployed I read the small print on my policy and losing your job was included in the conditions which may affect your insurance.
“I think it’s terrible that people who are out of work should have to pay extra money just to keep their car on the road.
“I’ve been with Tesco for about 10 years – all my insurance is with them. I do all my shopping with them and I trust them.I’ve been driving for 23 years and I’ve got a full no-claims bonus. They know I’m not a liability.”
Married Tony, from Bridgend, South Wales, said he was told the rise would be refunded if he found work, but there was a £15 admin charge for every change.
Tesco refused to comment on the case, saying it was confidential.
But the Association of British Insurers confirmed that employment status can affect your car premium.
A spokeswoman said: “Many insurers have reported an additional risk associated with being unemployed. It is supported by evidence. We advise customers to shop around.
Tesco Phone Number For Car Insurance - News
“I've been with Tesco for about 10 years – all my insurance is with them. I do all my shopping with them and I trust them.I've been driving for 23 years and I've got a full no-claims bonus. They know I'm not a liability.” Married Tony, from Bridgend,
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Tesco Compare Car Insurance « Mum's the Word
It may surprise you to know, given that I sometimes seem rather…scattered…that I can actually drive. I passed my test FIRST TIME when I was just 18 and my first car was a little metallic red Fiat Cinquecento who I called Ruby. I loved that car, she was £795 and 7 years old when I bought her and I paid another £700 to be insured on her on a provisional licence, which back then was megabucks to me!
I’ve had various cars over the years and I adore driving, but we haven’t actually had a car at all for the past two years after our last one gave up the ghost. We recently saved up some money and are looking to buy a little second hand motor, choosing to opt for a Mercedes A-Class for the safety and quality build that those Germans always seem to offer. Then comes the issue of car insurance. I spent a while looking into how much our insurance would cost and found the process so laborious, going from one site to the next and entering all of my details.
Then I remembered all of those TV adverts about websites that compare car insurance and because they’re such a well-known family brand, I opted to use the Tesco Compare website. Any time I shop for car insurance, Tesco Insurance tends to come out as the cheapest, even in comparison to all of those ‘women driver’ insurers, but with their comparing service you can compare quotes from all of the major insurance providers at the same time.
It’s a completely free service and there’s no obligation to buy anything, but for a busy working Mum, the time I saved by using Tesco Compare was invaluable to me and my family. Once we’ve purchased our new car, which will probably be after Christmas, I’ll definitely be using Tesco Compare to find the cheapest quote I can and let’s face it, aren’t we all looking to save a bit of money after the expensive Christmas period?