Professions that can earn you an auto insurance discount
Whensearching for new auto insurance everyone is looking for those shiney deals that could save some money. While a huge part of calculating your premium is down to your driver’s history, how old you are and the type of car you drive, you might be eligible for a discount that you weren’t aware of. Did you know that many insurance companies will actually reduce how much you have to pay for your policy if you work or are trained in a certain profession?
What jobs can qualify for a discount?
The types of jobs that are granted a discount varies from company to company, so it really depends who you go with. Broadly speaking, however, the following can be eligible for discounts from participating insurers:
Architects
Certified Public Accountants
College professors
Dentists
Doctors
Elementary and high school teachers
Engineers
Firefighters
Lawyers and judges
Librarians
Military service members
Pilots
Police officers
Registered nurses
Scientists
Why do insurers offer profession related discounts?
Insurers determine how much they are going to charge for policies based on risks. The higher of a risk you pose to them, the more they will charge you. Therefore, many insurers offer discounts to people employed in what they consider “low-risk professions”. Often the lower insurance costs correlates to the number of claims filed by drivers working in those professions.
For example, those who work in the emergency services tend to work in the communities that they live, so don’t spend as long commuting. Furthermore, they tend not to work regular 9-5 hours and spend less time driving in rush hour. Although many of these drivers spend a lot of time speeding down highways, its rarely in their own, private vehicles.
Other insurers choose to offer discounts to certain professions as a way to “give back” to those who protect, educate and care for their communities.
Does every insurer offer discounts?
Insurance discounts largely depend on the insurance company you’re with, or even the province that you live in, which means that although some insurers provide discount to a long list of occupations, others offer no discount at all. Do your research and ask your insurer about what kind of discounts they offer, you never know what you could be eligible for.