How Can Your Job Affect Auto Insurance Rates?

Did you know that where you work could affect your auto insurance rates? If you've suddenly found that your auto insurance premiums have been adjusted and you just don't know why, it could be a recent job change or other related issue. 

You May Have a High Risk or Low Risk Occupation

Different occupations have different risk factors, which the insurance companies have calculated statistically based on years of data. Doctors, lawyers and real estate brokers are all high risk occupations; they are far more likely to get into an accident. This is based not on the individuals who choose these professions but the professions themselves, which tend to be high stress.

As mentioned by the DMV, lower risk occupations include scientists, nurses, pilots, and accountants. In general, they tend to take fewer risks when driving and are thus considered to be less risky when insurance rates are calculated. 

You May Need to Commute for Work

The more mileage you pack onto your vehicle, the higher your insurance rates are going to be; it's simple math, the more you drive the more likely you are to get into an accident. Your commute charges are tiered by most providers. If it is three miles or less, it won't affect your insurance rate; but if it's more than twenty miles, it's going to be much more expensive for you. You can request a rate sheet from your insurance provider. 

You Might Need a Degree for Your Job

If your job requires a four-year degree, you'll probably be saving quite a bit on insurance. For whatever reason, statistics have shown that those who have four-year degrees -- and, thus, those whose jobs require them -- are far less likely to get into accidents than people who do not. Graduate degrees are even less risky, according to the Consumer Federation of America.

You Might Have Job-Related Discounts

Finally, you might want to consider job-related discounts. If you work for a fairly large business, it's likely that your company already offers insurance premiums at a discounted, group rate through one or more auto insurance providers. You might want to consult with your human resources representative for more information. Government employees almost always have some form of auto insurance discount.

Auto insurance companies use a huge amount of factors to calculate your insurance premiums, so don't get too distressed about a single change. If your auto insurance premiums do jump up, consider consulting with an insurance agent to find out more about what you can do to reduce them. Often it's as easy as shopping around and remaining a safe driver. For more information about auto insurance, talk to a professional like Winder Insurance Center.

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