Auto Insurance for Medical Professionals (Tips to Save)

Because there are so many different types of medical professionals, auto insurance for medical professionals comes in a wide range of costs. Many of the best auto insurance companies offer discounts on car insurance for medical professionals. Doctors may pay higher auto insurance rates because they tend to have more work-related stress and tend to drive more expensive cars.

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Lauren Blair has been practicing law for more than 25 years. Lauren has been a licensed member in good standing of the Illinois bar since 1994, the year she graduated from Illinois Institute of Technology’s Chicago-Kent College of Law. Prior to law school, Lauren obtained a Bachelor of Arts in government from Cornell University. For the first 20 years of her practice, she worked in mid-size l...

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UPDATED: Mar 2, 2021

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Overview

  • Healthcare workers can get discounts on car insurance based on professional affinity groups, higher education, and safe driving history.
  • Insurance industry studies have shown that, statistically, nurses are safer drivers than doctors based on doctors filing more accident claims.
  • Doctors may also have higher insurance premiums than nurses due to higher levels of job-related stress and the likelihood of owning more expensive cars.
  • Safe driving, telematics, school grades, bundling, and other discounts are also available to lower insurance premiums for medical professionals.

All over the world there has been an outpouring of appreciation and goodwill for medical professionals due to their frontline work fighting against COVID-19, and helping patients recover and stay safe during the deadly pandemic. They deserve a lot for all they do. It’s reassuring to know there are car insurance discounts for healthcare workers. But as a healthcare professional, how can you make sure you’re getting the best car insurance rates?

Here are some tips on how to get the best healthcare worker discounts on car insurance. You’ll also find some interesting information on whether medical professionals, in general, are good drivers, including statistics on whether nurses are safer drivers than doctors. If you’re ready to get professional discounts on your car insurance, just put your ZIP code into our search tool to talk to an insurance provider in your area.

Can healthcare workers get discounts on car insurance?

The short answer is, yes, healthcare workers can get discounts on car insurance. But before we can talk about specific discounts for medical professionals, it helps to understand the basics on how insurance companies determine car insurance premiums

General Risk Factors That Affect Car Insurance Rates

How do auto insurance companies come up with your rate? When car insurance companies set car insurance rates they look at the statistical likelihood that someone will get into a car accident or otherwise file a claim under their auto insurance policy. They favor customers who are likely to be a low risk while charging high-risk customers higher premiums.

Here are some of the common risk factors used to calculate car insurance rates:

  • Age — Statistically, teen and elderly drivers are more likely to have car accidents than drivers between the age of 30 and 69.
  • Car Type — Your car’s year, make, and model will impact auto insurance rates. Less expensive vehicles are cheaper to insure than rare or expensive cars because they are cheaper to replace in a total loss situation. Also, cars with safety features will result in lower rates.
  • Coverage and Claim History — Lapses and gaps in coverage and frequent claims equal high risk to insurance companies and will cause high premiums.
  • Credit Rating — Your credit score is used to evaluate your risk to insurance companies. Numerous insurance industry studies show a correlation between higher credit scores and fewer insurance claims. That means drivers with low credit scores will see higher car insurance premiums.
  • Driving History — Drivers with good driving history, i.e., no accidents, moving violation convictions or claims, pay less.
  • Education — Your education level is a factor used to assess risk. In this area of risk assessment, the higher the level of education, the lower risk a driver you are.
  • Gender — Even though women are statistically less risky drivers than men, between the ages of 20 and 69 women generally pay similar rates as men, and sometimes higher rates.
  • Location — If you live in a highly-populated or urban area with high crime and heavy traffic, you’ll pay more than someone living and driving in rural and suburban areas.
  • Mileage and Usage — Your annual mileage and car usage will impact your rates. Motorists who drive infrequently and short distances will pay less than those who have long daily commutes.
  • Profession — Insurance companies collect data on which professions have the most accident claims, and they give discounts to professions with better safe driving stats.

Risk Factors for Medical Professionals That Affect Car Insurance Rates

But are there unique car insurance risk factors for healthcare workers? To ask it another way, are healthcare workers safe drivers?

Auto insurance for healthcare workers can be expensive because medical professionals can be viewed as high-risk motorists. Doctors tend to be the highest risk drivers because of job-related factors like high stress, long hours, and lack of sleep. Nurses, on the other hand, are considered to be more careful drivers than doctors, and therefore often see lower rates for auto insurance for nurses.

In fact, NursingTimes.net reported on a study that showed doctors make more car accident insurance claims than nurses, including community nurses and health visitors who drive to and from their patients. Eight of the top 10 professions with the highest number of accident claims were made up of health and social care professionals, including doctors, clinical psychologists, drug counselors, nurses, dental surgeons, and hospital managers. Nurses ranked 233 in the study.

Due to those risk factors, car insurance for doctors can be more expensive than for nurses. Other reasons doctors tend to have higher insurance premiums than nurses include being in higher income brackets and owning more expensive vehicles. 

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What discounts are there for healthcare workers?

Now let’s talk about car insurance discounts for healthcare workers. How do you get the cheapest insurance for healthcare workers?

Education

For most car insurance companies, rates decrease as your education level increases. Some estimate a 4 percent savings for motorists with postgraduate degrees. Since medical professionals tend to have more advanced education, they should see lower premiums.

Affinity Groups

Additionally, many insurance providers give affinity discounts for doctors, nurses, and other medical professionals. Affinity discounts are price breaks offered based on membership to particular groups like military, veterans, alumni associations, honor societies, sororities and fraternities, professional associations, and other special interest groups. 

How can you get the cheapest rates for car insurance?

How do you find the best auto insurance company and get the cheapest auto insurance? You don’t have to work in the medical field to lower the cost of your car insurance. Here are some discount opportunities that every driver can take advantage of.

Safe Driver Discounts

Simply put, good drivers pay less. If you haven’t had an accident or moving violation conviction in the past three years, you should ask about lowering your premium.

Telematics

Telematics car insurance is usage-based insurance that uses a mobile phone app or in-car telematic device to monitor driving habits, like speed, braking, and cornering, to more accurately determine car insurance premiums. Motorists with safe driving habits get cheaper auto insurance.

Good Student Discount

Most major insurance companies offer good student discounts. Students up to the age of 25 generally qualify if they maintain a 3.0 or B grade average.

Student Away Discount

Students can also ask for lower rates if they live over 100 miles away from their vehicle and only use the car when they return home for holidays or vacations.

Other Policy and Payment Discounts

Don’t miss out on these “low hanging fruit” type discounts for things most people already do:

  • Automatic Payments — Get a discount for electronic payments from your bank account rather than credit card payments. Your insurer passes the savings from lack of processing fees on to you.
  • E-Sign — Most insurance companies offer discounts for buying car insurance online.
  • Bundling — Consumers save big when they purchase multiple policies, e.g.,  auto insurance, homeowners insurance, renters insurance, condo insurance, life insurance, or other insurance, from the same insurance company.
  • Pay in Full — If you pay your annual insurance in one lump sum, you should ask for a discount. 

Do I need medical coverage on auto insurance?

Let us take this opportunity to discuss whether you need medical coverage as part of your car insurance. As you may already know, medical payments coverage, i.e., insurance for your personal medical costs if you’re injured in an accident, is optional. If you don’t opt for medical payments coverage and you cause a car accident, you will have to pay your medical bills out of your own pocket.

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Get Help

If you’re a healthcare worker, the insurance industry thanks you for all that you do and for putting others first. You should be rewarded with driving discounts based on your education and safe driving habits. 

Take advantage of car insurance discounts for healthcare workers by putting your ZIP code into our search tool to talk with an insurance agent in your area.

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