Car Insurance Rates By Profession

What role does your profession play in dictating your car insurance rates? Let’s dive into the data.

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How Does Your Job Affect Your Car Insurance?

The cost of car insurance is very specific and its rate reflects the potential risks that you and your vehicle pose to the insurance company. Your occupation is one of the many qualifying factors that make up the “you” portion of auto insurance costs. Insurance companies do this for two reasons…

1. Some Car Insurance Companies Associate Certain Professions With Less-Risky Behavior

Historical data shows that drivers with higher education levels are less likely to take risks on the road. But this is not just because of the level of education. The data also shows that drivers in certain professions tend to file fewer claims and receive fewer fines or citations. Insurance companies reward these trends with lower premiums.

2. Some Professional Organizations Work With Insurance Companies To Secure Favorable Rates

Some insurance companies, such as Geico, cooperate with organizations to increase their customer base. If you are a member of a professional organization or professional association, you can get a discount.


Medical Professions

Nurses, EMTs / paramedics, first responders, physicians, and pharmacists fall into the category of medical professionals. Some insurance companies offer lower premiums based on their risk assessments, while other insurance companies offer discounts based on membership in healthcare professional organizations.


Military Personnel

Military personnel receives one of the most impressive career-based car insurance discounts. Serving or actively serving in any US military department can provide an average car insurance discount of nearly 12%.


Law Enforcement

The police are responsible for providing traffic tickets that affect your car insurance premiums and are considered good customers by car insurance companies. Therefore, the police get lower insurance premiums.


Teachers

Unsung heroes in the world, teachers, often get discounts on car insurance. While we’d like to think insurance companies are rewarding teachers for doing vital and socially beneficial work, the discount is derived from the data: teachers, plain and simple, are often just good drivers.


Professional Membership Discounts: What to Consider

There are two ways to get a discount on professional-based auto insurance. The first method is to rate your occupancy based on historical data through the underwriting process. If historical data shows that drivers in your industry are unlikely to make claims or drive recklessly, you can get a small discount. The second way to get a professional discount is to join a professional organization. It can be a group, union, or alumni club. These organizations often work with insurance companies to provide discounts.


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