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Does Your Profession Affect Your Auto Insurance Rate?

Wednesday, February 10th, 2010

Your profession can affect the rate you’re assessed for an auto insurance policy. Typically, occupations that attract lower auto insurance rates are ones in which the insured must be detailed in his job or must make safety a priority in his everyday work activities. Alternately, positions that are considered significantly stressful or necessitate that an individual spend a good deal of time in a vehicle command a higher auto insurance rate. People who use their cell phones in their cars as a part of their jobs are also considered to be at higher risk and must pay more as well.??As a result, insurance companies determine rates with regards to occupation based on several criteria. Basically, the insurer will decide on an auto insurance rate by considering the stress level of a job, the number of miles traveled to and from work on a daily basis, whether or not a job requires operation of a vehicle, and the amount of communication that takes place while in transit.

As a result, executives or business owners generally pay higher auto insurance rates than research scientists or people whose occupations involve the development of products or materials, for example, all of whom are individuals involved in safety training. As these individuals generally must be more focused and detail-oriented in their work, insurers believe such people will behave more cautiously behind the wheel and therefore be more attentive when driving.

Consequently, when your insurance provider determines the auto insurance rate for your auto insurance policy, he is taking into account how your daily tasks at work can impact the way you drive. By reviewing your occupational profile, the insurance provider is able to assess risk and make the appropriate modifications or changes with respect to your auto insurance policy rate. Thus, a career that entails a good deal of stress can increase the premium on an auto insurance policy as it is believed the individuals in such jobs are apt to be more distracted when driving and thus make more mistakes. Alternatively, professions requiring attention to detail but which are low-stress can bring auto insurance rates down, as people in these jobs are considered to be more focused when they drive and therefore have fewer accidents.

Thus, speeding occurs more often in high-stress occupations as individuals are less careful and drive at a faster rate. Research shows that healthcare professionals are more likely to crash than driving instructors, for example, who very seldom are to blame for accidents of this type. Therefore, your profession does indeed have an impact on the ultimate rate you’ll pay for coverage for your car. If you’re in a high-stress occupation, you’ll most likely pay more.

Will Marrying Someone with a Poor Driving Record Affect Your Auto Insurance Rate?

Thursday, January 14th, 2010

When you’re tying the knot, there’s a lot to think about. For most couples, thinking about your new combined auto insurance rate isn’t something that comes as a high priority on your wedding day. However, it’s a very important thing to consider when planning your new finances and budgets. In most cases, combining both spouses’ car insurance policies will result in a lower auto insurance premium, which is, of course, a very good thing. Insurers consider married couples to be less of a risk, and they will usually give them multi-policy discounts when they picking up a new policy. However, your insurance rate may actually increase if your new spouse has a bad driving record.

Because a joined auto insurance policy essentially combines the driving records of both drivers, you might see quite the rate hike in your insurance bill after you get married. Of course, if you and your spouse completely combine your finances, you’ll see an overall drop, as his or her policy cost will go down proportionally. If you maintain separate accounts, though, it can seem like a raw deal for the good driver. Luckily, there are a number of steps you can take to make sure you and your spouse end up in a fair auto insurance position and get an overall decrease in your auto insurance bill.

First, you should recognize that combining your policies is the perfect time to re-evaluate the coverage that you’re paying for and the insurer that you’re using. Go online and get an auto insurance quote or two (or three, or five) from your insurer’s competitors to see how rates stack up. Your new married status is a big draw for insurers, and you’ll see rates vary pretty wildly from insurer to insurer. If you find a better insurance rate for the same amount of coverage at a different company, contact your current insurer with the news. They’ll often try to meet or beat their competitors’ prices. You can also see if there’s anything that your spouse can do to improve his or her insurance risk level. For instance, many drivers with a few citations or accidents on their records can take defensive driving courses or drive safer vehicles to bring their rates down. Adding car alarms to both of your vehicles can also help. Your insurance agent will likely have many more suggestions that can lower your premiums.

In any case, remember that accidents and other incidents are removed from drivers’ MRV (motor vehicle report) after a state-mandated length of time — usually two years for most incident types. If your combined auto-insurance rate seems very high, you’ll probably just have to wait for them to drop again.

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