Insurance loading by status

[Jug]

I recently did a run of quotes for me (using an alias) to see what effect my declared employed status would have.
I did this because I believed (based on what I'd read online) that being "Retired" meant higher insurance premiums, so I was trying to avoid that.

The bike choosen for this test was a CB1000r with a value of £5,000 and the results were interesting, so I thought I'd share them.
(Cover type - fully comp, full NCB, bike garaged, minimal excess etc).

Employed (Electronics Engineer) £82.20
Un-employed £138.61
Retired £82.01
Self Employed £97.86
House Person £89.02

So the moral of this story.. don't be un-employed.

[royb]

Good bit of research there Richard.
I might just stay "retired".

[TLS-Moose]

Interesting!

One presumes they think an employed person will be too busy with work and family to ride much, or be irresponsible due to their dependencies. A retired person more likely to spend their time napping on the sofa rather than the bike, but an unemployed person will have too much time on their hands so is likely to be out more

[Ming]

I'm now going to be retired. Might have difficulty getting courier insurance cover for the van, mind.
Dunno why self employed get hit more - most couriers I know are too busy to ride their bikes

[Robbo87]

Interesting - ta for researching; were these quotes from comparison sites or just one company?

[Jug]

All from Compare the Market.

The cheapest for each changed but were either Bennetts, MCE or One Call.

[Robbo87]

All from Compare the Market.

The cheapest for each changed but were either Bennetts, MCE or One Call.

Well under a hundred quid for most status' isn't bad.Think I'll stay retired though .

[Bob]

Interesting information. I think I’ll stay ‘retired’

[Tvrv37]

Fair to say it's cheaper to insure a bike than it is to fill it up with petrol

[ptolemyx]

And I'll stay retarded

[Jay]

Also i heard on the news that it's also done by ethnic minority too..... No i am not taking the mick .

[menzies3032]

Try putting in working for a Parcel Carriage company (I work for TNT / FedEx) and the insurance companies have a blue fit thinking that I will use my bike for business purposes even though I exclude commuting and I am not a delivery driver I'm a Project Manager. Normally find it pushes the price up by at least £50.

[ptolemyx]

Or they know you're a gixxer rider at heart Rob

[menzies3032]

Or they know you're a gixxer rider at heart Rob

Ahhhhh that's what it is