We all know that life insurance premiums may be set according to one’s occupation; the more dangerous the job, the higher premiums you will pay. It stands to reason that a miner will pay more for insurance than an office worker. This job would be labeled high risk? But did you know that this also applies to car insurance? Auto insurance companies have determined through their own research and experience that there are particular occupations that are also high risk?
An occupation report released by comparisonmarket.com, in 2006 revealed the results of their studies and showed the differential in insurance rates for many occupations. These findings show that a person who is employed as a scientist might pay $870.20, while a Business Owner may pay $1,405.11. That is a significant difference.
Some of the other occupations that were on the low end of insurance premiums are Retired persons, Unemployed persons, Pilots, Navigators, Disabled persons, Actors, Artists, farmers, public officials, and students, engineers, homemakers, designers, and athletes.
Some of the other occupations that were in the middle range of insurance presidiums are Librarians, Breeders, Roomers, Clerks, Cashiers, Computer technicians, Mathematicians, Researchers, Chefs, Bakers, Teachers, Architects, and people in Marketing and Advertising.
Some of the other occupations that were on the high end of insurance presidiums are Administrators, Supervisors, Managers, Policemen, Firemen, Medical Doctors, Dentists, CPAs, Comptrollers, Nurses, Attorneys, Lawyers, Judges, and Executives.
So what is the connection between a person’s job and their driving ability or their degree of risk? Well, it had little do with ability. It primarily takes into account the amount of time that person will actually be driving and the distances they will be driving. Another big factor that seems to be part of this formula that Insurance Companies have is the degree of stress that a person’s occupation puts on them. A stockbroker, for instance may be under great stress when he or she leaves the office each day, especially after a tumultuous day at work. An attorney is often traveling from offices to courthouses and talking on telephone during these car rides about important matters. Business people, particular people in high positions are also prone to stress on their jobs, and on any given day, they may leave the office full of anxiety and therefore be a distracted driver. And so it would follow that a person who is self-employed has a lot of pressure and therefore falls into the high risk category.
If we want to examine the low end of insurance premiums, we can explain the insurance companies’ rationale by considering that these occupations have the opposite effect or impact on people. A scientist, for example, is in one place all day, does little traveling, and is usually not under pressure to complete his research. Retired persons probably drive less, drive shorter distances, drive off peak hours, and most likely have little stress in their daily lives. One last consideration, as far as low insurance rates go, would be an occupation such as a pilot. A pilot is trained in precision so it would follow that he would be a careful cautious expert driver.
If you’re new here and like what you read, please subscribe to my blog feed or sign up for free email updates. Thanks for visiting! 
Tags: affordable auto insurance, automobile insurance companies, average monthly premium, car insurance premium, car insurance quotes, car insurance rates. comparing auto insurance online, cheaper auto insurance rate, coverage for automobiles, full coverage policy, occupation and auto insurance rates, shop for car insurance online
[...] See the rest here: Do You Get Charged More For Vehicle Insurance If You Are Self … [...]
[...] Do You Get Charged More For Vehicle Insurance If You Are Self … [...]