Price comparison website MoneySuperMarket has costed drivers up to an additional £677 a year on car insurance for getting employment details wrong and placing them in the wrong insurance band.
As stated in January 2018 MoneySuperMarket insurance quotes, those categorised as unemployed instead of retired paid up to 37% more for their car insurance. Additionally, there was a 26% cost increase on insurance for stay-at-home parents who stated unemployed instead of housewife.
Furthermore, young, students were also paying an additional 51% for not stating student rather then unemployed when listing themselves.
‘To get the best cover at the best price, you have to choose the most accurate answer at every stage of the quotation journey. And that can mean trying alternatives to find the one that best matches your situation, instead of plumping for whatever seems most obvious,’ said Kevin Pratt, consumer affairs expert at MoneySuperMarket.