Martin Lewis, a renowned financial expert, has cautioned drivers about choosing their job titles when purchasing auto insurance. According to Lewis, certain job titles can significantly impact insurance costs.Martin Lewis, a renowned financial expert, has cautioned drivers about choosing their job titles when purchasing auto insurance. According to Lewis, certain job titles can significantly impact insurance costs. He emphasized that drivers should select titles that accurately reflect their occupations and avoid using titles that may lower their premiums but could be considered fraudulent. Lewis advises drivers to use a rough guide to determine appropriate job titles and double-check with their insurance providers. Examples of potential title variations include using “software” instead of “computer games” or “company director” instead of “plumber” when applicable. However, it’s crucial to note that altering job titles simply to reduce premiums may be considered fraud, which could result in policy cancellations and future insurance coverage difficulties. Lewis stresses the importance of using titles that would be reasonable to a person familiar with the driver’s actual occupation. Additionally, drivers with multiple jobs or part-time student status may benefit from exploring both job titles for insurance quotes. The site also cautions that insurers may require drivers to use the title associated with the location where they spend most of their time. Nevertheless, it encourages creativity by suggesting that business owners check quotes for both their specific trade and company director titles.
Martin Lewis has issued a “job title” warning to drivers buying car insurance. BBC Sounds and ITV star Mr Lewis, who has stints on the likes of Good Morning Britain, This Morning and The Martin Lewis Money Show, has warned motorists.
Money Saving Expert user Chris tried it and told the site: “Saved £100 by working in ‘software’ not ‘computer games’!” Mr Lewis said: “When considering whether you can use a different title, alway imagine you were asking a reasonable person who knew what you do for a living.
“Would they say it was reasonable for you to describe yourself this way?” MSE added: “Just making small (legal) tweaks to your job title can cut your car insurance costs. Use this tool as a rough guide, then double check with your insurer.”
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MSE added: “If you’re an office administrator and you want to say you’re a driving instructor as it’s cheaper, this is simple fraud. And if your insurance company finds out, it could cancel your policy and add you to a central fraud database, which other insurers can see – making it hard to get cover in future.
“As, Martin says above – imagine you’re asking a reasonable person who knew what you did for a living. Would they say it was reasonable for you to describe yourself this way?” The site also says ig you have more than one job, or you’re a part-time student, it’s worth checking both jobs.
But Mr Lewis’ team also has a warning, and it urges road users, drivers and motorists up and down the country: “Be aware that some insurers will make you use the place where you spend the most time. But – be creative – if you own your own plumbing business, it’s worth checking quotes for both plumber and for company director.”
