While your occupation isn't directly connected to your insurance premium, it does have an impact. On average, those who have completed an MD/PhD education program pay less for car insurance than those who have not — while maintaining all other variables constant. Insurance companies see people with higher levels of education as less risky drivers — thus making them a less expensive client. Still, car insurance isn't a $220 billion industry because it's cheap. So, let's explore some ways to save on auto insurance as a doctor.
Why do doctors pay less?
There is a lot of misinformation regarding why certain occupations pay less for auto insurance. First and foremost, insurance companies do not use your income to determine what you pay. So, just because doctors typically make more than your average person, insurance companies don't hike up the price just for them.
What many companies do, however, is view driving patterns through the filter of education level to predict what kind of customer you could be for them. Basically, they see drivers with more education as less likely to take risks when driving. And, to an insurance company, less risk equates to fewer claims payouts for them.
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Why do doctors pay less?
There is a lot of misinformation regarding why certain occupations pay less for auto insurance. First and foremost, insurance companies do not use your income to determine what you pay. So, just because doctors typically make more than your average person, insurance companies don't hike up the price just for them.
What many companies do, however, is view driving patterns through the filter of education level to predict what kind of customer you could be for them. Basically, they see drivers with more education as less likely to take risks when driving. And, to an insurance company, less risk equates to fewer claims payouts for them.
Other keywords People are searching for:
Auto Doctor Car insurance
car insurance for nurses in texas
educational leadership doctoral programs online
top online doctoral programs in business
best doctoral programs in education
business doctoral programs online
rehab doctors
car accident doctor atlanta
doctors car insurance
doctor after car accident
doctorate in security
can you sue a doctor for wrong diagnosis