My Job Affects my Insurance Rates?

Most people are aware of the fact that one’s age, gender, marital status and driving record all have bearing on what they wind up paying for auto insurance coverage. Even though it seems unfair (and often is nowadays), people understand that one’s credit status factors into the equation.

However, they are often surprised to learn that their occupation – what they do for a living – can have a substantial effect on what they pay for car insurance.

How Does my Job Affect my Driving?
Again, there is no simple answer here; it comes down to numerous factors. Primarily however, it boils down to two major factors:

• work-related stress
• amount of time spent behind the wheel

When you think about it, this makes perfect sense from an actuarial standpoint – and the numbers in these tables bear out the facts. People who have high-stress jobs and put a lot of miles on their vehicles are more likely to have accidents.

What Are Some High-Risk Occupations?
You may also be surprised to learn that people in the legal profession – lawyers and judges – pay some of the highest insurance rates in the industry. Small business owners as well as CEOs and other high-placed corporate executives also pay high premiums on their auto insurance. This has everything to do with the stress levels and long hours associated with these occupations. In addition to spending a great deal of time on the road and the likelihood of being distracted by other factors (such as cell phones, even though more and more states are passing laws regulating their use while driving), people in these professions are more apt to own newer, more expensive vehicles.

On the average, people in these high-stress, high-end occupations pay an average of almost $1,400 per year for auto coverage.

What Are Some Low-Risk Occupations?
Again, there are some surprises here. Performing artists – actors, musicians, dancers and singers – actually constitute some of the lowest risks in the insurance industry. One reason is that such people depend upon a healthy body for their livelihood and are more apt to be cautious as a result. (In addition, most people in this category cannot afford newer, more expensive vehicles.)

Accountants and research scientists are two more groups that enjoy lower insurance premiums when it comes to their auto coverage. This is less surprising; these people are known to be very cautious by nature and meticulous in their work; these are people that pay close attention to details. These habits carry over into their driving habits.

Professional airline pilots and navigators also fall into this category for the same reason; indeed, fliers must be detail-oriented because their lives depend on it every second between takeoff and landing. Naturally, such people are better, safer drivers.

On the average, those in occupations that the industry identifies as “low risk” pay just over $900 a year for their car insurance.