Is it true that certain people get lower auto insurance rates simply because of their occupation? How do you determine the relationship between your job and your car insurance rates. Are auto insurance companies allowed to charge higher premiums for people who work in “higher-risk” jobs? These are important questions that everyone should ask, particularly those who work (which is almost all of us). As many people do not know that their occupation is one factor that insurance companies use in determining their car insurance rates.
There are many occupations. Not only does an occupation define you and your profession, but it also has an impact on the amount you pay for insurance. This type of occupational division is an example. Premiums for high-risk occupations like construction workers and miners are more costly than those where the person works from a desk all day. This is what automobile insurance is supposed to do, and many people think otherwise. However, I have the responsibility of letting them know that they are greatly mistaken. While certain occupations attract a lot of attention from automobile insurance companies, others are now a high-risk area for them. Below you’ll be able see how your occupation ranks in relation to automobile insurance.
Comparisonmarket.com’s 2006 occupation report shows that the following 63 occupations are most affordable to insure with car insurance.
1 Scientist $870.20
2 Retired $917.63
3 Currently not Working $934.10
4 Pilot/Navigator $965.94
5 Disabled $868.14
6 Actor/Performer/Artist $971.10
7 Librarian/Historian $1,008.86
8 Farmer $1.015.62
9 Students $1,028.96
10 Public Officials $1,068.83
11 Design Services $1.070.87
12 Waiter/Bartender/Host $1,071.25
13 Engineer $1,087.56
14 Athlete $1,088.29
15 Homemaker $1.091.73
16 Instructor/Coach/TA $1,098.86
17 Breeder/Groomer/Trainer $1,102.83
18 Clerk/Cashier $1,105.93
19 Computer/Math/Research $1,110.15
20 Chef/Baker $1,114.89
21 Teacher/Dean/Education Degree $1,121.15
22 Machine Operator $1126.34
23 Architect $1130.71
24 Machinist/Toolmaker $1,131.33
25 Marketing/Advertising $1,135.33
26 Cleaning/Janitorial $1,136.02
27 Mechanic $1.138.33
28 Repair/Maintenance $1,142.89
29 Null $1.146.46
30 Military Officer $1147.96
31 Tradesman/Manufacturer $1,150.80
32 Customer Service $1151.92
33 Other – Prof. w/Coll Degree $1.156.33
34 Construction/Skilled worker $1,159.93
35 Technician $1,160.09
36 Other – No College Degree $1181.74
37 Bank/Clerical/Office Staff $1,190.75
38 Nanny/Caretaker $1,193.97
39 Military E5+ $1.196.27
40 Admin. Asst./Secretary $1,209.26
41 Clergy $1,209.72
42 Driver $1.209.94
43 Health Care Worker $1.212.75
44 Finance/Inst Prof. w/Degree $1213.17
45 Barber/Beautician $1,214.47
46 Sales/Real Estate $1,215.04
47 Government GS1 – GS5 $1.215.50
48 Self-employed $1,217.59
49 Professional Workers $1,219.49
50 Security/Prison Worker $1.227.74
51 Administrator $1,229.80
52 Supervisor/Asst. Manager $1,231.67
53 Manager/Director $1,240.14
54 Government GS6 or Higher $1,262.45
55 Police/Fire – Other $1,264.62
56 Doctor/Dentist $1.277.63
57 Military E1 to E4 $1.294.69
58 CPA/Comptroller $1,301.36
59 Police/Fire – Lt/Cptn/Chief $1,314.88
60 Nurse $1.316.40
61 Attorney/Lawyer/Judge $1,370.39
62 Executive $1.375.38
63 Business Owners $1,405.11
Each of these occupations has a clear explanation. It is also possible to see why they are at the top of the table. Let’s start at the top. This is where scientists, retired people, pilots, or navigators are ranked. If you’re a scientist, your research is conducted at home or in a company. You must be thorough and find relevant information. These people often use the skills they have learned at work to improve their lives. Scientists are considered to be cautious individuals who think twice about things and pay attention to what they do. They are better drivers than most other occupations, and their average monthly premium is $870.
This is the pensioner with a monthly premium of $917. Most retired people do not do much in the day. They spend their days at home watching TV, or fixing up their houses. They may decide to drive to the grocery or other places. However, these places are usually short so there is less chance of them getting into an accident. While many retirees drive a lot, this is not an average number. Also, there are many “baby boomers”, which means that most retired people will follow the above pattern.
With an average premium of $965 for Pilots and Navigators, they are fourth in the list. This is a relatively low rate compared to other occupations. The majority of automobile insurance companies view these people as responsible and competent individuals. These people often hold the lives of other humans in their hands. This usually extends to driving on the roads. They are considered to be cautious and defensive drivers. Many of these people also drive the same way they do at work.
On the other end of the table, we see lawyers, lawyers, and judges with an average monthly cost of $1,370. This could be because these people are more likely to buy higher-end vehicles than those in the three other occupations. They are often still paying car payments or leasing the vehicle, so they end up with full coverage insurance, which can be quite expensive. They are often more difficult to fix, and may require more labor and parts. This is why insurance companies offer more expensive policies to cover them.
We also see executives paying $1,375 per month on automobile insurance. You can also buy expensive cars, which are more difficult and more costly to repair. But there is another thing. Executives communicate constantly with people around the globe and are always on the phone. They are therefore more likely to pay attention to their phone while driving. This has been proven to lead to some of the most serious accidents in the United States. This little thing called cell phones is a major reason executives have one of the highest monthly premiums.
We also find ourselves in the worst occupation to be insured by an automobile insurance company: the business owners. Business owners are the most expensive profession, with an average monthly premium of $1,405. These people lead a very stressful lifestyle. This can make it difficult for them to maintain their primary source of income. The more stressed you are, the higher your chances of making mistakes on the roads. You will also find the highest premium due to the fact that many of them spend hours on the roads and some use their cars for business purposes.
Your occupation can have a significant impact on how you are perceived by an automobile company. For those who are in the more expensive classes and good drivers, they will always be considered part the group. Your occupation has a great deal to do with who and what you are. Now you can see that it is not just about your car rates.