Car insurance premiums are expensive. While you may not think your profession can increase your premiums, car insurance companies highly consider this on deciding the amount of your rate. It plays a big factor in calculating a comprehensive car insurance quote that’s customised to your needs.
Here’s what you should know about how jobs affect car insurance rates
Some job titles get higher premiums because they’re likely to buy expensive cars. Other job titles may drive their car more often than others. Some jobs can also be considered high risk due to the nature of their work, like responding to emergencies and dealing with crimes.
Car insurance companies look at their past data and statistics on which jobs should get higher premiums. Moreover, they refer to different studies — like the one that states people who are good with numbers tend to be more careful drivers.
Aside from these, car insurance companies also consider the following:
These are the most common jobs with the highest premiums. Do note that it may vary per provider, so better consult ahead to get a comprehensive quote.
Entertainers — including musicians, comedians, actors, singers, and circus workers — pay the highest car insurance premium because they tend to buy premium cars. Depending on the company, they pay up to $2,748.10 per year.
Athletes — be it a football player, swimmer, or golfer — come second when it comes to having the highest premiums. They can also pay up to $2,748.10 per year depending on their car model, lifestyle, and more.
Unlike the two previous jobs, drivers pay high premiums because they use the car the most. Whether they’re a company driver, taxi driver, or food service delivery driver, they all have to pay costly premiums of up to $2,518.65 per year.
Bar staff — including DJs, waiters, bodyguards, snooker players, and car valets — pay a high premium because of the high risk of drinking under the influence. They can pay a hefty premium of $2,247.20 per year.
Chefs and restaurateurs tend to have a bad driving style, according to the data of some car insurance companies. Because of these tendencies, they can pay up to $2,115.12 per year depending on the insurer.
These jobs have the lowest premiums in New Zealand. Similarly, it may vary depending on the provider, your financial situation, and other important factors.
Accountants are good at analytical problems and numbers, which car insurance companies consider as low-risk. Depending on the car insurance company, they only need to pay a maximum amount of $1,378.76 per year.
Medical staff — including doctors, ambulance drivers, paramedics, and medical secretaries — only need to pay car insurance premiums of up to $1,439.94 per year.
Secretarial jobs only pay $1,468.35 per year on their car insurance premiums. This job title includes secretaries from different industries such as mining and construction.
While these jobs are considered to have the highest premiums, it’s not always set in stone. Car insurance companies also take into account different factors like your ability to pay, your personality, your driving history, and more.
Some insurance applicants tend to lie about their job titles to get a lower rate. However, this isn’t good on your part. Before approving your policy, insurers conduct investigations and inspections to ensure that your details are correct. Once they find out that you lie, it may lead to your application not getting approved as well as receiving possible legal charges.
One of the best ways to refute your high car insurance rate is to purchase a cheaper car. If you haven’t encountered any accidents in your driving history, show it to the car insurance company too. This is a good way to show that you can drive safely despite having a high-risk job title.
If you’ve already proved that you deserve a lower car insurance rate but are still getting an overpriced premium, you may want to look for better choices. You don’t have to search and scroll endlessly through different insurance websites. There’s a one-stop-shop that lists all the best deals in New Zealand!
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