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Can i pay for unemployment cover with 2 companies?

by ivan49, 4 months ago•Open Question

Personal Finance•Insurance•Income Protection Insurance

I already have taken unemployment cover out with a company over 2 years ago and just wish to double insure myself which will give me a higher rate of unemployment payment should I become unemployed.

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added 4 months ago...

is there anybody there?lol

added 4 months ago...

i was reading somewhere you cant have MORE than 90% of your gross salary (for unemployment cover)either by one or other insurance companies? The one I have been insured covers me for 55% of gross salary(I have been insured from 2006!!) I only thought it was a few years!!
I thought i could make this up to 90% with another company?

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Answers (3)

Hi,

This won't work unfortunately, you can't double insure. It'd be like having contents insurance with two companies and claiming twice.

If you can get a better deal with a different insurer, you should change but otherwise you should stick with what you have.

by G-Man, 4 months ago

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G-man is correct here and you certainly can never be better off under insurance cover than when you were working which may happen if you were allowed multi cover.

by Snoopy48, 4 months ago

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I was reading from UK insurance you cant have MORE than 90% of your gross salary (for unemployment cover)either by one or other insurance companies? The one I have been insured covers me for 55% of gross salary(I have been insured from 2006!!) I only thought it was a few years!! I thought i could make this up to 90% with another company?

by ivan49, 4 months ago

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Hi,

I'm not aware of anywhere offering such high levels of protection. I have a feeling the maximum is set by legislation to ensure people have an incentive to return to work.

The maximum used to be 75% AFAIK but is now 60% as the benefit is paid tax free.

by G-Man, 4 months ago

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