New Job? It’s Time to Save on Your Car Insurance
A new job means a new opportunity. You can’t help but feel excited about meeting new co-workers and taking on new challenges. If your paycheck is higher, that’s the icing on the cake.
But there’s something else to celebrate when it comes to getting a new job. You might be eligible for cheaper car insurance.
Car insurance companies pour over data when setting insurance rates. While your driving history plays a significant role in your rate, companies also consider your perceived risk. In other words, insurance companies consider how likely you are to get in a car accident based on specific factors.
Your career choice is one of those factors. The companies analyze data by career type and then use that information when setting rates. If your new job is considered low risk, you’ll save money. That’s yet another reason to be happy about your career change.
Let’s look at low- and high-risk careers, along with other career-related factors that can lower your car insurance premiums.
And remember, you don’t have to wait until you get a promotion or change jobs to save money on your car insurance. Simply enter your ZIP below to compare dozens of quotes all in one place. And the best part? It’s totally free!
Car insurance companies have a list of what they consider low-risk professions. While people who work in these professions aren’t immune to moving violations, they are statistically less likely to get in accidents or receive tickets. That means insurance companies take on less risk when they insure them.
If you’re wondering when to shop for car insurance, consider looking at quotes if you’ve changed jobs and now work in a low-risk profession. You might be shocked by how much you save on insurance.
Teachers and College Professors
Teachers and college professors often get automatic discounts on car insurance. The discounts are generally around 10 percent off the normal premium price. You also might get additional benefits, such as coverage for your teaching materials.
If you’ve just become a teacher, it’s a great time to get a new quote. You might save even more if you go from teaching high school to teaching college.
Health Care Professionals
Did you switch to a career in health care? You might be eligible for a discount.
You’ll likely get the steepest discount if you’re a surgeon, physician, veterinarian, or dentist, but you can still save if you’re a chiropractor, nurse, or another provider.
Medical professionals tend to be among the most responsible, so they are less likely to get in accidents. The key is to compare quotes from different insurance agencies so you can get the best discount on car insurance after switching jobs.
Scientists and Engineers
If you’re a scientist or engineer, you’ve made your way through complicated math and science coursework. That means you’re most likely responsible and disciplined and aren’t likely to have moving violations. Your insurance company will likely reward you with a nice discount on your insurance.
Some insurers even offer as much as 18 percent off for scientists and engineers. Just imagine how much you can save if you get that much off your insurance premiums. It’s well worth getting a car insurance quote after changing jobs to see if you’ll save.
First responders spend their days protecting citizens. While they are on the road a lot, they drive city or company vehicles. For instance, they spend their days in ambulances or fire trucks instead of their own vehicles.
Most first responders serve their own communities, meaning they live close to work. They also tend to miss rush hour during their commutes. When you combine all these factors, it’s easy to see why most insurance companies give them discounts.
Not only do first responders work in an admirable profession, but they are at low risk of getting in an accident in their own vehicles. If you recently started serving your community as a first responder, shop around and compare quotes on car insurance. You might be rewarded with a nice discount.
Have you recently finished your law degree and become a lawyer? If so, you can expect a nice discount on car insurance. As a lawyer, you know the rules of the road and understand the importance of driving safely. You are also responsible, so you won’t take big risks when driving. Get a car insurance quote after changing jobs, so you can enjoy lower premiums.
Regardless of the industry, you can save money on car insurance if you’ve started working from home. When you work from home, you spend less time on the road. Less time on the road means fewer chances to get in an accident.
When deciding when to shop for car insurance, many people find that this is the ideal time to compare rates. Your insurance agent can even help you determine if you can change your vehicle’s status to “pleasure” from “commuting.” If so, you can expect huge savings.
While the above low-risk professions will save you money, you might end up paying more if you move to a high-risk profession. Remember, your career is just one of many factors that insurance companies consider, so don’t be afraid to get a quote if you have a high-risk profession. A quote is not an obligation to purchase car insurance. Instead, you can use it to see if you can save money. And the best part is, it’s free, so there’s no harm in getting quotes as often as you’d like.
If your job is stressful, tiring, and consists of unconventional hours, you might work in a high-risk profession.
Journalists, ticket sales representatives, and bartenders are considered the riskiest drivers. Many of these jobs require people to put in much more than 40 hours a week, and they often have to work on weekends. This can cause them to spread too thin, making them physically and mentally fatigued and therefore more vulnerable to getting in a collision or being pulled over for moving violations.
Gig workers are also at a higher risk for accidents. People who are part of the gig economy often work odd hours and take on multiple jobs to make ends meet. That can cause them to take risks they wouldn’t normally consider.
While you might have to pay more for car insurance if you work in a risky profession, remember, that’s just one of the many factors insurance companies consider. You can still get a good rate on insurance. Then, you can get an even better rate if you change careers to something that’s lower-risk.
Other Ways Your New Career Can Help You Save
Don’t worry if you don’t work in a low-risk job. Your new career might help you save money on car insurance in a different way. Let’s explore some other ways a promotion or a new job can lower your car insurance rates.
Did You Continue Your Education? You Can Save on Car Insurance
If you’ve recently changed jobs because you earned an advanced degree, you can get a lower car insurance rate. Education level is yet another factor that car insurance companies consider when setting rates.
Earning a post-secondary degree can save you around $300–$600 annually on car insurance premiums. Your rates will drop with each degree you earn, starting with your high school diploma.
Again, this comes down to risk. Insurance companies have discovered that the more educated you are, the less likely you are to take risks. When you don’t take big risks, you reduce your chances of getting into an accident. Insurance companies pay less to insure you, so you can save money.
Does Your New Job Come with a Pay Increase? It Could Help
If your new career comes with a salary increase, you could end up paying less for your auto insurance. While your salary doesn’t directly affect your insurance rates, it can help you improve your credit score. That, in turn, means you pay less for car insurance.
Let’s back up a bit. If you make more money now, you can pay down your debt. That will help you increase your credit score. Auto insurance companies typically consider your credit-based insurance score when choosing a rate (in most states). The score includes the debt you owe and your payment history. The lower the score, the higher the risk. If you can increase your score due to your new job, you should get an insurance quote.
Is Your Job in a New Location? You Need to Get a Car Insurance Quote
When you change careers, your commute changes, as well. If your new job is much closer or in a location with fewer accidents, you need to get a quote for auto insurance. Driving fewer miles to work and working in a low-risk area can lower your rates.
See How Much You Can Save on Auto Insurance
Now is the perfect time to shop for car insurance and see if your career change will lead to lower insurance rates. If so, you can buy the new policy, so you’ll save money. Then, you can celebrate your new job and your lower monthly payments. It’s a true win-win!