Rod Jones, insurance expert at u Switch.com, says: 'Occupation is one of the factors taken into consideration by firms when setting premiums, because different jobs come with different inherent risks.Jobs which attract the highest premiums are usually those with the highest number of historic claims.'For example, musicians, entertainers or DJs will be hit because of the expensive kit they carry, making their cars attractive to thieves.
Six in ten UK drivers (60 per cent) are unknowingly at risk of driving without valid car insurance because they haven't notified their car insurer about a change in job details, according to new research from u Switch.
The occupation you provide is one of the factors taken into consideration by car insurance firms when setting premiums, and if this changes it could impact the cost of the policy.
But did you know that altering your car insurance mid-term can sometimes prove a costly business? unveiled research showing that - of 28 insurers it studied between 20 - 13 had raised fees in that time and eight had introduced new ones.
It also discovered that cancellation fees had gone up by almost a fifth in the three-year period. said that a quarter of those who paid insurance admin fees didn’t expect them and only one in three felt that fees were made clear before they bought the policy.
If you’ve compared prices and found yourself a great car insurance deal, you might think that’s job done for the year.
However, sometimes the unforeseen and the inevitable happen - you change jobs, you move house, you upgrade your car or you sell it - and you’ll need to let your insurer know to avoid invalidating your policy.
These changes might include: Although you might feel that some changes should lead to a reduction in your premiums - such as moving to a more secure area or switching to a lower-power vehicle - in many cases making changes will still lead to an increase in what you pay.
This is because insurers often apply an adjustment fee for any changes made – and this fee can sometimes be quite significant.
The extent of the rise in insurance costs were revealed by Confused.com's price index, which said the average premium is now the highest it has been since the middle of 2012.
In the final three months of last year, premiums rose by four per cent on average - the equivalent of £30 extra for motorists.
If you think you’ll need to change or cancel your car insurance part-way through, it’s a good idea to make sure you know what fees might apply from the outset so you can factor them into your decision.