Your job might not sound so exciting when you describe it to people you meet at a cocktail party, but a high-tech job others might not be so quick to understand might earn you lower premiums on your auto insurance. The amount you pay per month for insurance can be affected by a number of factors that may not be so obvious at first, but are worth keeping in mind.
Unfortunately, insurers are quicker to favor certain professions, and in some cases, it doesn’t matter what you do for a living, but how you present yourself and your career.
How Your Job Title Affects Your Auto Insurance Payments
1. Find the Right Job Title
While few people would actually change jobs to save on car insurance, unless transportation is the main part of the job, it may be enough to simply tweak your job description. This doesn’t involve dishonesty, but it may simply require zeroing in and getting more specific. For instance, a freelance writer might not be as impressive as saying you are a financial or technical writer. This could be absolutely accurate if you write blogs on the stock market or personal finance or have composed software guides.
Some insurers have different perceptions of who is high risk. According to a London Telegraph article, an insurance company charged a window cleaner over 12 times more in car insurance than a financial administrator of a school. While it is important not to lie about your occupation, because this would involve fraud, it is recommended to “tweak” job classifications if you can to secure a lower insurance premium. Since jobs tend to have various kinds of descriptions and it may just be a quick chat with HR to get on the same page, this may not be so difficult.
2. Skip the Commute
If you are a real estate agent who drives prospective clients to view properties or do repairs and you need your car for your job, you will likely face higher auto insurance premiums. A clean driving record free of accidents and tickets is likely to help keep these premiums to a minimum, but insurers favor clients who drive less than average. If you have been wanting to pursue a work-at-home career, such as sales, marketing or writing, you may reap the benefits of lower auto insurance without a commute If you can show that your rate of driving is lower than the national average, your insurer may offer you a lower premium, since the risk is less.
3. What If You Need to Drive?
If your car is part of your career, there are a number of ways you can lower your auto insurance premiums. In addition to your career, insurers will look at your credit score as a sign of reliability. Take a defensive driving course and add some brownie points. Insist that citations and paid tickets be erased from your record and select minimal coverage with high deductibles. Finally, take advantage of all the discounts at your disposal and keep shopping around for a better deal.
Car insurance is a significant, although necessary expense. Look at ways your career affects your car insurance premium and think like an insurer when it comes to finding the best rate. Present your career in the best light and build confidence with the insurer so that he or she will view you as a safe bet. With a clean driving record, a solid credit score and a defensive driving course under your belt, you may be on your way to more reasonable premiums on your auto insurance.
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