A recent survey commissioned by Confused.com found that a person?s job affects the premium payable for car insurance and has little bearing on the make of car.
The survey was conducted by using a fictional Welsh character, living in the Vale of Glamorgan, who owns a 1.8 litre Vauxhall Astra. The company would phone various insurance providers to get insurance quotes. The same information would be provided each time but his occupation would change from banker, to doctor, to comedian and a footballer. The results were that footballers were asked for the highest amount of £691.69 per year whereas a bank manager paid the lowest amount of £309.39. The conclusion is that irrespective of where you live, your insurance premium is determined by your job.
Kate Armstrong, managing director of Confused.com said that a person?s occupation appeared to be critical when determining insurance premiums. “Although you can’t keep chopping and changing your career to get the best deal on your car insurance, you can make sure you’re not paying above the odds. Typically the cheapest price found by Confused.com’s shop around search engine was 57 per cent below that of the average premium.”
Another example given by Ms Armstrong was that of a TV broadcaster who paid £448 for insurance. If they said they were a TV announcer it is likely they would have paid a premium of £681.
Nich Pearson, Director of The Welsh Consumer Council warned against making such generalisations and said, “Insurance is based on analysing risk. Companies will have figures on each profession and the risk they pose. It’s easy to see why they do it, because they want to reduce risk to themselves wherever they can.”