Whether you believe it or not, your job can affect the price you need to pay for car insurance. Let find out why and see if we can save your wallet.

You must state your employment status and job title when taking out car insurance. The price of your cover will be influenced by your occupation. Car insurers collect information on previous claims and use it to estimate the ability that individuals from different jobs will make a claim in the future. If the insurer considers that your work is more risky than another, the cost you have to pay will be more.

Is Your Work Costing Your Insurance?

A Research by GoCompare

We tested which occupations were paying the most and least for insurance and discovered that some of the smallest premiums were liked by those in certain medical jobs. Another interesting fact is that several jobs on the cheaper list are traditionally filled by women. Since the EU Gender Equality Directive rendered it illegal for men and women to rate car insurance differently, some insurers get around this by instead creating some employment a lower risk factor.

To Make My Insurance Cheaper, Can I Alter My Job Title?

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Photo by Nik MacMillan / Unsplash

Don't lie to your insurer when you define your work. Putting down the incorrect work might imply you're getting better offers from insurance, but it's useless because your insurance would be void. But when you get a quote, you have to choose from a predefined list and you may discover that several job titles correctly portray what you are doing for a living, such as' mechanic' and' car engineer.' If that comes to you, attempt passing quotes on the list for other employment that accurately describe your role. Always be as honest as possible when describing your employment title but be aware some will carry higher premiums.

If You Are Unemployed, Is Car Insurance More Expensive?

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Photo by Marten Newhall / Unsplash

You may pay more for your car insurance if you are unemployed. The Association of British Insurers verified that unemployment was an acknowledged risk factor for insurers and that actuarial proof supports this. Some ideas to explain the perception of higher risk are: unemployed drivers are more inclined to use their vehicle to move to more places as they seek work. Additionally, the unemployed are less inclined to keep their cars' condition, which could contribute to more claims.