How Changing Your Job Title Can Save You Money on Car Insurance

In my country, changing your job title can help you save money on paying community tax certificate.

Now here’s another way that one can save money by changing his or her job title.

The results showed that if a 32-year-old married male, living in Glasgow and driving a Fiat Brava, listed his occupation as ‘newspaper reporter’, he would pay £376.22, but if he described himself instead as a ‘journalist’ or ‘correspondent’, his premium would drop nearly £100 to £282.45.

The same man, listed as a barrister would pay £459, but changing his job title to lawyer could save a pretty packet, lowering the cost by 22% to £376.22.

It is also cheaper to be a bricklayer rather than a builder and publicans pay less than landlords.

“Insurance premiums are influenced by a host of factors ranging from the number of miles you drive per year through to your job title. Adjusting the way you describe your job can have a surprising impact on premiums, “explains Debra Williams, Managing Director of Confused.com.

“The reason for this lies in the fact that insurers essentially keep a record of claims history against specific job titles, “she continued. “It may be a quirk of the statistics, but if an insurer finds a glut of claims associated with a specific job title, anyone with that title is likely to be penalised with higher premiums.

“This is why it is vital to shop around so that you get a range of prices from different insurers, many of which will have a different claims experience from their rivals.”

via FairInvestment

Tags: car insurance, job title