Did you know that your job is one of many factors that may affect your auto insurance premiums? Although this may sound a bit strange and unfair to you, there is a good reason why insurance companies consider employment in their risk assessments. Here’s a closer look at why your job impacts auto insurance rates and which professions are particularly noted.
Stress-level and Driving Style
The level of stress that you experience at work is tied to the likelihood of getting into an accident. How so? Let’s think about how any given person may act under different levels of stress. First, let’s imagine that you’re having a great, stress-free day. When you’re driving, you’re likely more patient with other drivers. You are also more clear headed and aware of your surroundings.
Now, let’s think about an extremely stressful day. Perhaps you’ve been working long hours, are lacking sleep, or are just consumed with worry or anger about a situation. How might you drive differently? You may be more irritable towards other drivers. You might also drive more quickly or aggressively in an effort to just get home. You level of energy or sleep may make you less focused on the roads and potential hazards. Put simply, you will drive differently when you are stressed.
Apply this to stressful professions and it becomes clear why your job impacts auto insurance rates. If you have a stressful job, you are statistically more likely to get into an accident. Thus, insurance companies will charge you more for this added risk.
High-Stress Professions
Below are some examples of what insurance companies view as high-stress occupations:
- Firefighters
- Police Officers
- Military Personal
- Medical Professionals (Doctors, Nurses, etc.)
- Social Workers
- Real Estate Agents
- Architects
Low-Stress Professions
Alternatively, what would be considered low-stress occupations? Here are a few examples:
- Scientists
- Artists
- Engineers
- Pilots
Why Your Job Impacts Auto Insurance Rates, With Exceptions
Although your job impacts auto insurance rates, there are some exceptions. For example, doctors (overall) are less likely to file insurance claims. Thus, some insurance companies will offer discounts to doctors even though they work high-stress jobs. If you’re wondering if your job impacts your auto insurance rate, speak with your independent insurance agent. In some cases, providing additional information to your insurance company (such as why your job is a low-stress one within a normally stressful industry) can help reduce your rate.
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