What do you call yourself, unemployed or self employed?

[EvilPie]

How much were those claims for? It's only when it becomes worth it to them that they'll delve a bit deeper and look to get out of it. At a certain level they pay loss adjustors whose sole purpose is to reduce the pay out. If you've lied on your application they'll be loving it.

Forgetting to tell them that you've changed job is a lot different to out and out lying about what you do. Think I'd rather just say unemployed than take the risk. It might cost a bit more in premiums but that's the price you pay for having a job that doesn't require you to pay any taxes.

Am i lying saying i am a 'self employed private equity investment fund manager'? just because legally the private equity investment fund i run doesn't require me to pay income/corporation tax and i don't wear a pin strip suit and cufflinks to do it?

I have no idea but fortunately I'm not the one having to interpret how you choose to describe playing poker and gambling.

It's a tricky one that's for sure but your description seems like one that could be justified if they pushed you that's for sure.

Private equity investment is investment in private companies - do you invest in private companies?

Spoken like a true loss adjuster.....

Well Arb? What's your response?

We're not trying to be awkward f**ks here by the way. Hopefully you have all the answers then you know you don't have to worry.

[arbboy]

No i don't.  My equity is private though (all mine) and i manage how it is invested.  Maybe i need to change the title slightly.  Private fund investment manager would work!

[nirvana]

Same as arb, I normally go with retired. Not bad in yours 30s. Or journalist on some forms.

Author, no ?

[Ragz]

If you end up on the wrong side of a 6 or 7 figure third party claim the insurance company are going to go through your proposal answers with a very fine tooth comb.

I had a £7k claim for whiplash made against me when I nudged someone up the rear at literally 1mph didn't even crack his bumper, and I knew absolutely zero about it until 18 months later when I got a new insurance quote and was told I'd failed to declare a claim made against me and would be charged accordingly. Shortly after they received a prompt "GFY u aint getting jack" I phoned my previous  broker then underwriter asking why I knew nothing about this. After I said to them the guy is blatantly lying you need to inform the police for insurance fraud his response was merely "no point mate, we get false claims for whiplash everyday and just pay them out no argument"!!!

[Doobs]

If you end up on the wrong side of a 6 or 7 figure third party claim the insurance company are going to go through your proposal answers with a very fine tooth comb.

I had a £7k claim for whiplash made against me when I nudged someone up the rear at literally 1mph didn't even crack his bumper, and I knew absolutely zero about it until 18 months later when I got a new insurance quote and was told I'd failed to declare a claim made against me and would be charged accordingly. Shortly after they received a prompt "GFY u aint getting jack" I phoned my previous  broker then underwriter asking why I knew nothing about this. After I said to them the guy is blatantly lying you need to inform the police for insurance fraud his response was merely "no point mate, we get false claims for whiplash everyday and just pay them out no argument"!!!

There will be an anti fraud department or similar at every insurance company.  They should be happy to hear from you.   Probably best not to tell them to go fuck themselves if you would like a positive result.  Who is this "underwriter"?   Having worked at a few insurers over the years and anti fraud training is pretty standard, so nobody at an insurer should give you that speech.   Of course, some brokers aren't going to care too much about insurers claim figures, but insurers definitely do.  Given you knew nothing of this claim, then your broker doesn't sound that great already.

On the other point, I don't see the point in lying to insurers.  There isn't a correct answer.  I'd say that much of the time you aren't getting found out, but as others say, some claims are going to get looked at more closely.  Good luck with private equity manager when you leave somebody with permanent brain damage. 

[cambridgealex]

I think I have Stocktrader or similar on my policy. I have a share portfolio in my name, with shares in 20-30 companies at any one time. I make trades every so often. Think that would hold up if it came down to it?

[Simon Galloway]

Disappointed that no-one seems to be working in shipping any more.

[Longines]

Depends. If a loss adjuster Google's your name do you think they'll agree, and more importantly the judge? An interesting EV call for sure, lifetime reduced premiums vs the chance of being successfully sued for 7 figs.

[david3103]

Does Sam Tricket insure his car as a Gas Fitter?

All these convoluted attempts at showing a 'respectable' job have the potential to come back and bite you if there is a significant claim.

[arbboy]

Does Sam Tricket insure his car as a Gas Fitter?

All these convoluted attempts at showing a 'respectable' job have the potential to come back and bite you if there is a significant claim.

I doubt it because he isn't a gas fitter anymore.  I am a private fund investment manager which is why i say i am.  Do Subway workers insure their car as a 'Sandwich artist' or whatever stupid title they are given?

[POWWWWWWWW]

Does Sam Tricket insure his car as a Gas Fitter?

All these convoluted attempts at showing a 'respectable' job have the potential to come back and bite you if there is a significant claim.

I doubt it because he isn't a gas fitter anymore.  I am a private fund investment manager which is why i say i am.  Do Subway workers insure their car as a 'Sandwich artist' or whatever stupid title they are given?

He's prob not trying to save £40 on his annual insurance quote either.

[arbboy]

Does Sam Tricket insure his car as a Gas Fitter?

All these convoluted attempts at showing a 'respectable' job have the potential to come back and bite you if there is a significant claim.

I doubt it because he isn't a gas fitter anymore.  I am a private fund investment manager which is why i say i am.  Do Subway workers insure their car as a 'Sandwich artist' or whatever stupid title they are given?

He's prob not trying to save £40 on his annual insurance quote either.

He really should say he is retired because no one could argue he isn't given his results and the difference on his insurance premium for his car to being retired to being a pro poker player on his insurance would be massive at his age i would imagine.

[Jon MW]

I don't understand what the problem is with saying retired (?)

[MLHMLH]

Housewife/husband?

[arbboy]

A fair few pro gamblers/poker players should just say 'unemployable'.  Would be a lot more accurate.