Vehicle Insurance Quotes


Is it advisable to state that you are unemployed when filling the form for renewal of your automobile insurance policy? How does your employment status affect your chances of getting affordable insurance? On the face of it, there seems to be no connection between your employment status and your ability to obtain affordable insurance. However, the truth is that there is a deep connection which works positively as well as negatively depending on how you manipulate it.

What will be the impact of your unemployed status on the vehicle insurance quotes you find online? Well, the number of miles you drive will automatically come down. This means that your automobile insurance ought to come down when you don’t go to work and stay at home. Further, the security of your vehicle will improve if there is somebody at home having an eye on the car at all times. These just happened to be the positive consequences of being unemployed as far as automobile insurance is concerned.

However, insurance companies do not treat unemployment as a positive development. Why? Well, a person who is unemployed and short of cash may setup an insurance fraud to claim money. He or she may enter into an arrangement with a local mechanic to crash the vehicle, pay the deductible and earn compensation obtained from the insurance company as income.

Well, there have been in numerous instances of insurance frauds where lack of money was the primary motive. Hence, insurance companies will automatically become wary of offering the best deal to a person who is unemployed.

The option of listing yourself as a housewife or house husband is possible only if the other partner is working. If both individuals are unemployed, specifying this option may lead to complications because the insurance company may accuse you of submitting false information.

The best option is to indicate that you are running a ‘work from home’ business. You can choose this option even if you are unemployed. The annual income that you earn will come down but you certainly will not have the tag of not working at all. Stating such an option will not lead to accusation of providing false information. After all, it does not cost a lot to set up a freelance business from your home, right?

Use the internet to learn more about the effect of unemployment on vehicle insurance quotes and the right way to tackle this problem. It is advisable to consider this option as early as possible. Start your research the moment you lose your job.

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