So how does your occupation factor into these calculations? When it relates to your job, insurers consider not only statistics, but also occupational behaviors and the location of your work and travel patterns.
If your car is part of your business or used for work-related functions on a regular basis, this will have an impact on your premium. If you deliver products or transport items from a store to customers, it will play a role in determining the cost of your coverage with some companies, but not all. A special surcharge may apply, depending upon how often the vehicle is used and for what reason.
Long-haul transportation generates the highest premiums because of the excess miles and wear and tear on the vehicle and highways. Although larger trucks are more safe to drive compared to 25 years ago, when they are involved in an accident, typically multiple vehicles are involved and the risk of driver and passenger injuries increases. Also, if you drive one of the safest vehicles on the road , you'll save money with lower premiums.
The combination of one of these vehicles, coupled with a low-risk occupation, will certainly help your budget. And although they cost more than compacts, smaller SUVs are often safer to drive, which translates into bigger savings. Not only will the number of miles traveled increase when your car or truck is used for business, and not pleasure , but there may be increased liability exposure, including occasional passengers that are transported.
Since medical payments to passengers are a covered expense, the increased incidences could not always change the rate. There also is a slight risk that one of the passengers actually drives the vehicle. Private health insurance coverage is considered "secondary" when a claim is filed, so whether someone is uninsured or covered on a private or group plan, there is very little impact.
Most Americans are covered through an employer-provided group plan, private Marketplace plan, non-Obamacare plan, Medicaid, or Medicare. Several companies have special "business" rating classes, depending on the frequency of business usage. If you make several deliveries to a wide area, you will ultimately pay a higher premium. If hazardous waste is involved, you may also need a special permit or license from the local or state government. It's also possible you may need an additional liability rider, which may require you to increase underlying limits on other homeowner or rental-property policies if an umbrella rider is utilized.
Larger corporations may self-insure their risk or seek reinsurance coverage. According to insurers, certain personality types are more likely to work in specific occupations and have a greater chance of getting into a car accident. While you may disagree with their assessment, carriers have immense databases of statistical information to back up their reasoning when it comes to risk and occupations.
Providers will make assumptions on risk factors associated with the nature of jobs and the character that fits them — it's just how it is. But more so than that, they'll be wanting to know how frequently you're driving on the roads, how long for and under what conditions; from weather to mental, stress of a job is a big factor with Public Health Sector workers making the most at-fault claims. Someone who drives their own vehicle as part of their work, say in a city centre for 4 hours a day including peak hours , is more likely to be in a situation where a claim may arise than a person who commutes rurally only on weekends.
According to Motoring Research , the best job title you can have if you want cheap cover is ' mechanic '. Which makes sense really. For the job titles that will, on average, get the least expensive car insurance , see below:. As you can see, there's not necessarily a huge amount of logic involved, although broadly people who work at desk-based jobs tend to pay a bit less than others, and those who work late shifts tend to pay more.
Moreover, if you do work in one of these jobs, it doesn't mean cheap car insurance is impossible to find. Various other factors from the size of your car, to your postcode, to your years behind the wheel all contribute to the value of your quotes. Those angels among us who work in hospitality will also face higher premiums.
Bar staff, chefs and waitstaff work long shifts at unsociable hours so they're more likely to be driving in the dark, where reduced visibility poses a higher risk. To find out if there is still a gender bias in car insurance, Vanarama grouped each profession into several sectors of industry such as education, construction and retail etc. We then compared the average costs of car insurance for a 1.
Don't forget to follow the latest automotive news by bookmarking the Vanarama blog and to check out the latest van leasing deals and car lease offers at Vanarama. At a time when the UK and the rest of the world are dealing with an unprecedented economic situation, workers in the hospitality industry are some who have been hit the hardest.
This is due to many of the country's hotels, pubs and restaurants closing for the foreseeable future. Insurers are compounding the situation, unfairly in our opinion, by charging bar staff and chefs a premium on their car insurance when compared to other professions.
These types of professions typically involve high-stress situations and require individuals to work long hours which may affect their driving abilities. Due to sleep deprivation, doctors have almost the same accident rates as teen drivers.
There are different ways insurance companies assess unemployed individuals when pertaining to car insurance. Car insurance companies may view an unemployed individual as a higher risk of not maintaining their vehicles and not making insurance premium payments due to their financial situation.
Unemployed individuals may pose a higher credit risk. Unemployed individuals may also be at a higher risk of making false insurance claims. However, depending on the insurance provider and the relationship you have with them, unemployment can sometimes work in your favour when it comes to insurance premiums. If you have always maintained a good driving record and paid your premiums on time showing your insurance provider you are a responsible individual, your premiums may be reduced to reflect the reduction in driving time on the road.
Keep in mind it is not only what you do for a living or a fact of being unemployed that plays a role in determining what your annual premiums will be, many factors are taken into consideration by insurance providers when determining your premium such as age, driving experience and history, where you live, the purpose for driving and other factors.
Regardless of your circumstances surrounding the need for car insurance, it is always recommended to shop around to ensure you are receiving the best possible insurance rate and the appropriate coverage for your situation.
Shopping online for car insurance is a fast, convenient and economical way to obtain many quotes. Save my name, email, and website in this browser for the next time I comment. Leave A Comment Cancel reply. Car Insurance Occupation Categories There are two occupation categories within the car insurance industry, these include high-risk occupations and low-risk occupations. Lowest Risk Occupations Several insurance providers will offer low-risk job discounts.
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