Is Your Job Costing You Money on Auto Insurance?

You know insurance is necessary, but it can also be expensive. You want to get the best price you can, but without sacrificing coverage. There’s no lack of television ads and bulk mail letters promising lower rates and more fun. But who can you trust?

A surprising factor in car insurance rates

Call the toll-free number and you feel like you are being sold, not helped, by the fast-talking voice on the phone. Insurance is too important for doing business like that. On top of it all, every insurer you speak with has different options to consider, making it very difficult to compare insurers in an apples-to-apples fashion.

Car insurance rates are based on your driving record and your age, right? How difficult could it be to get a good quote? The fact is, though, there are numerous factors that go in to computing your insurance rate. Did you know your occupation is even part of the calculation?

Job factors affecting auto insurance rates

Who should get the best rate on insurance, all other things being equal: Your family physician or your “mad scientist” neighbor who is always launching rockets from his backyard? According to the actuaries — the statisticians who compile risk management data — the scientist gets the nod. Why? Insurance rates are based on probability, and it is more probable the physician is going to get into a crash (too many hours on the job, perhaps) than the scientist.

Employment considerations include:

• Type of work: At the higher rate end of the scale are physicians, lawyers, salespeople, and other (high stress?) occupations. On the get-a-break end are school teachers, scientists, and accountants (to name a few).
• Distance of your commute: The more you are on the road, the more likely you are to have trouble while driving. That is a big reason, perhaps, of why the salesperson is on the list, especially a traveling salesperson.
• Where you live: Rates can vary from state to state and neighborhood to neighborhood. Whether you garage your car or park on the street is also a factor.

How to get the all-around best auto insurance rate (and policy)

Sometimes, just switching your job title (without quitting your job) can make a sizable difference. For instance, a “carpenter” may get a lower rate than a “builder.” The only way to tell for sure it to ask. And the best place to ask is NOT via the telephone, but online. There, you can be in charge of your own destiny.

Here’s how quick it is:

• Head to a site like QuoteWizard and click for comparisons
• Enter your zip code
• Enter basic info about yourself and your vehicles
• Compare quotes from at least five excellent insurers
• Tweak your information to see how it is affecting the offers
• Run the quote again until you have the coverage and price you want

With average auto insurance rates running over $1,000 per annum, the idea of driverless car is sounding better all the time.

Meanwhile, take a few minutes and shop around. You may be surprised at how much money you can save by using a simple online tool. And the best thing about comparing rates online is that YOU are in control of how quickly to move ahead and which options to compare. Try it. You’ll like it.