People with high-stress jobs usually pay more for car insurance than those with low-stress jobs. An example explains why:
Let’s say Lance the Lawyer and Larry the Librarian differ only in their occupations – same age, same marital status, living in the same neighborhood. Larry is a criminal defense attorney, and his clients usually are facing serious charges. He handles a lot of cases, and if he messes up, his clients could spend years in jail or worse.
Larry’s “clients” tend to be young students doing research papers or older people trying to find a book they read years ago. His most emotionally challenging task is enforcing fines for books returned late.
Which of these two would you rather have behind you in rush-hour traffic? Stressed-out Lance or mellow Larry? Now you see why different jobs mean different car insurance rates.
The insurance companies know that the Lances of the world are more likely to be anxious or angry while driving than the Larrys. That means worse driving and a higher accident rate.
Another factor: Lance probably will be spending more of his time behind the wheel each day than Larry, which means more chances to smack into another car.
Which jobs are likely to boost insurance rates?
Lawyers, along with business people, are considered by car insurance companies to be the occupations with the highest stress levels. Other high-stress jobs:
- Physicians and nurses
- Police and firefighters
- Military personnel
- Real estate agents
- Social workers
Which jobs have lower insurance rates?
Insurance companies prefer people with low-risk jobs, and they particularly like jobs that require precision. Such drivers are more likely to be prudent and careful, the insurance companies reason. Among those jobs:
- Artists (Have to wonder how they’d handle Jackson Pollack, though)
And there’s one group that suffers no job stress: Retired people.
As with so many issues connected to car insurance rates, there are exceptions to the rules. Some companies will give physicians lower rates, for example, because they’re less likely to make a claim for a minor fender-bender than other occupations. It’s not worth their time.
You can’t do much about your job, but you may want to try explaining your situation with an independent insurance agent when you believe your circumstances merit a distinction from others with your occupational title. A lawyer who works at home in a field of law that never requires litigation, for example, might want to describe the situation to the insurance agent and see if those details might affect rates. No promises, but it’s worth a try.