Quick Answer: Why Do Insurance Companies Want To Know Your Occupation?

Does car insurance increase if unemployed?

Obtaining car insurance can be expensive for anyone but unfortunately, unemployed drivers often end up paying more than employed drivers do.

Indeed a recent study from the BBC showed that unemployed drivers can expect to pay, on average, 30% more than others for the cover..

Does being a student make car insurance cheaper?

The Cheapest Car Insurance For College Students. If you’re a college student, you’re likely on a strict budget. You already have to pay for tuition, room and board, text books, and more. … In fact, most college student students simply opt for the same insurance their parents have… even if it’s not the cheapest.

Why does occupation affect car insurance?

Your occupation, therefore, affects your car insurance rates for a variety of reasons that include statistics, behavior, travel patterns and location. Certain occupations are more likely to be involved in accidents, while certain personalities and behaviors are more common to specific occupations.

Why do insurance companies ask for marital status?

Insurance companies look at their history to predict the future and how risky you are, and that’s how they rate and charge you. If their history indicates that people who are married are safer, you being married means you’re less risky – and cheaper.”

Do insurance companies check mileage?

Mileage is noted in your logbook every time your car has its annual service. When you take out a new car insurance policy, make a note of the mileage on your car’s dashboard so you can look back and see how many miles you’ve driven when your policy’s up for renewal.

What happens if you lie about your occupation on car insurance?

What happens if I lie on my insurance policy? … Insurers can also refuse to pay out for any claim you make which means you could be treated as uninsured. And depending on the severity of the lie, the driver runs the risk of being blacklisted by all major car insurers.

Is NCD protection worth getting?

According to research by MoneySupermarket, by not protecting your no claims discount (NCD) – or no claims bonus – your premium could rise by 30 per cent if you make a claim. However, protecting a five-year NCD adds £23 on average to annual premiums. So if you stay claim-free, you’ll end up out of pocket.

What is the cheapest insurance company?

Cheapest Car Insurance CompaniesUSAA is the cheapest car insurance company, and it offers the lowest car insurance rates in the country, according to our analysis. … Geico is the second-cheapest car insurance company, with a study rate of $1,168 annually. … State Farm is the third-cheapest car insurance company in our study.More items…•

Do insurance companies ask for proof of occupation?

This means that while insurance companies do check your employment, they don’t check your work history. Car insurance companies only care about your current job and job title, and they only use it for the purposes of determining your overall risk for getting into a car accident.

What occupation is cheapest for car insurance?

Top 10 jobs for cheaper insuranceClerical assistant.Local government officers.Medical secretary.Secretary.Classroom aide.Book-keeper.Legal secretary.Police officer.More items…•

What day is car insurance cheapest?

Getting car insurance quotes 20 to 26 days before the policy is due to start is likely to get the cheapest price from a comparison site, saving up to 40%, an MSE investigation reveals.

How can I get cheaper car insurance by tweaking my job title?

Here are six ways to get cheaper car insurance.Use the right job title. … Add another more experienced driver to the policy. … Never leave it till the last minute. … Get some cash back. … Pay up front. … Cut your extras and boost your excess.