Amid rising car insurance costs, a new analysis reveals how certain job roles may affect premiums.
- Accurate job title listings can significantly impact insurance rates according to experts.
- Care workers, delivery drivers, and nurses face high insurance costs relative to salaries.
- Graphic designers and LGV drivers enjoy lower insurance premiums.
- Strategies to reduce insurance costs include adjusting voluntary excess and avoiding unnecessary add-ons.
With car insurance rate hikes of 18% and a surge in queries about expensive premiums, UK drivers are seeking ways to reduce costs. Expert analysis from Independent Advisor Car Insurance sheds light on an often-overlooked factor that can inflate premiums: the accuracy of listing one’s job role. Connor Campbell, a seasoned expert, suggests exploring variations in job titles as insurers may offer different rates for similar roles. As Campbell advises, while honesty is paramount, testing different titles such as ‘writer’, ‘editor’, or ‘reporter’ for a journalist could lead to more favourable rates.
The examination ranked ‘care worker’ as the top role for higher premiums. Despite a modest average salary of £23,400, care workers see a hefty £584.09 insurance cost, consuming about 2.5% of their income. Delivery drivers, with an annual salary of £25,600, face a similar burden with average premiums reaching £583.24—approximately 2.28% of their earnings.
Nurses, another key role within the NHS, confront the third highest insurance cost at £565.76. This is a smaller percentage of their £38,000 income compared to care workers. Meanwhile, customer service roles incur insurance costs of £556.30, translating to 2.23% of the typical income of £25,000.
Conversely, the report indicates that occupations like graphic designers benefit from the lowest premiums. Their insurance cost, £488.29 annually, takes up just 1.83% of a £26,600 salary. Large Goods Vehicle (LGV) drivers and executive assistants also enjoy relatively low premiums, amounting to 1.32% and 1.53% of their salaries, respectively.
In light of these variations, Campbell proposes several strategies to mitigate high insurance costs. Increasing voluntary excess can lower premiums, provided that drivers save sufficient funds to cover potential claims. Additionally, opting out of superfluous add-ons and being precise about mileage can prevent unnecessary expenses. Showing precision, over half of the UK drivers reportedly travel less than 100 miles weekly.
Understanding how job roles impact insurance premiums can lead to significant cost savings for drivers.
