How Your Job Affects Your Car Insurance Cost | Cheap Auto ...

Back when most of our parents were buying their first cars and insurance policies, insurance companies didn?t really care what they did for a living. As a matter fact, if the question ever came up it was just a point of small talk. But today that?s not the case.

In the 21st century insurance company representatives always make a point of asking what you do for a living when you buy a new policy. And they?re not doing so just to chat you up; they ask because your career choice affects your car insurance rates.

It?s All about Statistics

For a car insurance company, determining the rates individual drivers will pay is similar to you or I going to Vegas to gamble. The only difference is that you and I can?t do anything to change the fact the deck is stacked against us. Insurance companies can level the playing field through statistical analysis.

Car insurance companies have an entire army of statisticians whose job is focused around collecting accident data, analyzing it, and plugging it into mathematical formulas. These highly complex formulas are fairly accurate in determining how likely a driver is to have an accident. From those formulas car insurance rates are calculated.

Expensive or Choices

Back in 2010 a number of studies were conducted to rank car insurance according to career choice. Among the professions to pay the highest insurance rates were:

• Attorneys ? Attorneys tend to drive luxury vehicles for starters, but they are also perceived by insurance companies to be easily distracted because their jobs demand so much of their attention. Accident rates among attorneys are unusually high.
• Government Workers ? Believe it or not, government workers were pretty high on the list as well. No one knows why for sure, but some speculate one of the major factors has to do with a large number of them driving government vehicles that don?t cost them anything.
• Doctors ? Just like attorneys, doctors tend to drive more expensive vehicles and tend to be more distracted. Some would argue doctors have more stressful career than lawyers. As such, this might make them a greater risk for accidents.

As a side note, even though doctors are high on the list the subset of surgeons is not. For some reason, surgeons are more likely to pay for minor car accidents out of their pockets rather than file a claim. That keeps their rates a bit lower.

Less Expensive Career Choices

We won?t go through the details of the careers in the bottom of the list; you should be able to figure it out by comparing them to the ones listed above. With that said the five at the bottom of the list were:

• scientists
• artists
• actors
• musicians
• pilots

Though it may be hard for us to believe career choice affects our driving, the statistics don?t lie. There are some career choices linked to a higher rate of accidents as well as those shown to be safer.

Source: http://www.getautoinsurance.net/how-your-job-affects-your-car-insurance-cost/

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