Thousands of unemployed drivers could invalidate their car insurance by not updating their workplace details, according to experts at Motorfinity.
The leasing company, which provides discounted vehicles for the UK’s Armed Forces, Veterans and Emergency services, revealed that policyholders could refuse to pay out to motorists who have yet to update a change of employer on their policy.
With a record number of redundancies between August and October leaving 370,000 people unemployed, the coronavirus pandemic has left thousands at risk of being caught out.
Scott Hamilton-Cooper, Director of Sales and Operations at AX, commented: “So many have experienced financial difficulty as a result of the coronavirus pandemic, and the last thing anyone who has lost their job needs is to find that their policy is actually invalid.
“At a time where conditions make accidents all the more likely, a simple change of employment status to ensure you are fully covered is well worth the effort, and any accompanying admin fee.”
In 2019, data analysis of over 57,000 vehicles managed by AX revealed a 7.45% spike in road accidents between November and March.