Jobs are an important part of most people’s life. They pay the bills, put a roof over your head, and maybe even give you a sense of purpose. But your job may also be able to get you a professional discount on your car insurance rates.
Many insurers will reward you for working certain types of jobs. These are often professions that require more education and training than average. This includes attorneys, first responders, and educators. Some providers will give a special benefit for working a particular job. Other companies might just lower your rates because of your specific profession.
In this article, you’ll learn all about how your job can help lower your insurance rates. This includes a breakdown of how the discount works. We’ll tell you about all the types of occupations that qualify. You’ll also learn about who offers savings for certain professions.
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How the Professional Discount Works
Insurance companies provide many discounts that can help you lower your rates. These benefits are a great way to pay less for coverage. Most people can qualify for at least one. The exact amount you save depends on the insurer.
Like other benefits, some insurers offer lower rates based on your job or career choice. This caters to people who work certain jobs. You’ll only receive these savings if you work the right type of job. Insurance companies offer special rates to these people because they tend to file fewer claims than others.
Keep in mind that only some companies offer this as an actual discount. Other insurers might simply lower your rates because of your education level. The higher your education level, the less you’ll usually pay for insurance. Providers may also lower your rates because of details that your job says about you, like how far you commute or the industry you work in.
Employee vs. Professional Discount
It can be easy to mix up the professional and employee reward programs. They both seem fairly similar. Both are for people who work a job, after all. But they’re different in many ways.
The professional discount is for people who work a certain type of job. These are people who work in specialized fields or positions. Insurers reward these people with lower rates. They may also offer benefits to you or lower your rates because of something related to your job. This could be due to:
- Length of commute
- Education level
- Employee affiliation
Employee discounts are affiliation-based. This means that you could save money just by being a part of a certain company or group. These companies usually have a deal with your insurer to hand out this benefit. An example of this is a government employee discount. Federal government employees qualify because of their job.
The two differ because the professional discount lowers rates for your occupation while the employee-based programs, on the other hand, reduce rates because of the company you work for. But both rewards can overlap. For instance, if you’re a teacher and work for the government, both may apply.
Which Jobs Qualify
Not all types of jobs qualify. Some fields are more beneficial to work in than others in terms of car insurance. Here are the fields that can land you some nice rewards from your insurer:
Many insurers provide benefits to people who work in the education field. Teachers can especially receive a break on their premiums, but not all providers will just give you a flat dollar amount off of your rates. Often, teachers will need a master’s degree to enter the field. This high education level can help you save, too.
Liberty Mutual also offers a special program for teachers. It provides extra benefits, such as protection from vandalism when your vehicle is on campus. It also offers coverage for stolen school materials from your car.
Service members are eligible for a lot of benefits. First, they can qualify for the military insurance discount with many carriers. This would knock a large amount off of your rates. You can also take advantage of companies like USAA, which only provide coverage for military members and their families.
If you work in the medical field, you may be able to save on your car insurance. To reach this type of job, you usually need a high level of education. This can pay off with lower rates. Other insurers may also provide savings for medical occupations, such as:
- Registered nurses
- Occupational and physical therapists
You should check with your agent if you work in any one of these jobs. Chances are that you can qualify for a discount. Oftentimes, these savings can be pretty large. For example, Farmers Insurance offers a reduction of up to 15% for medical workers.
First Responders and Emergency Services
You may be able to get a discount if you’re a first responder. Firefighters, police, and EMTs are all positions that fit into this category. It’s common for people in these jobs to live close to their work. Because of this, they may have a smaller commute and less yearly mileage. Insurers will lower your rates if this is the case.
Some insurers may also offer you a deal if you work as a first responder. Though, this might be rare. It’s worth asking your agent if your carrier has a savings opportunity like this.
Scientists and Engineers
People who work in science or engineering roles may be eligible for savings. These types of people usually work hard to achieve a high level of education. Insurance companies may lower your rates because of this. Some insurers will also reward employees because of your workplace.
Which Insurers Offer a Professional Discount
Not all companies will give you a discount because of your job. Each insurer will also likely run its program differently than the next. Here are some of the top providers that offer some sort of job-related benefit (may also include lower rates because of your job):
Note: these may not be the only insurance companies that offer savings for working in a specific field. The professional discount is a broad term and can apply to actual benefits or simply a lowering in your rates. Be sure to speak with your agent or compare rates to find out how much you can save.
Frequently Asked Questions
Why do insurers ask me about my occupation?
Insurance companies may ask you about where you work or what you do when you sign up. This is so they can know more about you and your potential for filing claims. Jobs speak to a certain education level and can also tell providers about how far you commute. Your occupation can also get you a discount in some situations.
Can my college degree get me an insurance discount?
In many cases, your level of education can help you save on car insurance. Many insurers give out reduced rates to those with degrees in certain fields. They may also simply lower your premium because of your education.