Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insuran...

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager

UPDATED: Aug 6, 2021

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Key takeaways...

  • Doctors need to purchase higher limits of liability than the average individual because of their high salaries
  • Since doctors work under very stressful conditions, their profession could negatively impact the car insurance rates
  • Some companies offer affinity discounts to licensed medical professionals who are part of a professional association
  • When you commute to and from different offices and hospitals to see patients, you’ll pay a business insurance rate
  • More expensive vehicles tend to cost more to insure because of parts and labor cost more when a claim is filed

As a doctor, you take a Hippocratic oath that you will treat your patients to the best of your ability and you follow a sacred code of conduct. We often talk about the obligation to “do no harm,” but it goes far beyond that.

Each year you work hard to fulfill your duties as a trusted physician while you expand your knowledge and stay up-to-date on the latest advances in the medical community. Residents especially are expected to work longer hours for less pay. Unfortunately, these kind of conditions can put residents and students at a higher risk of fatigue-related accidents. No matter where you are in your career track, there are companies that want to offer discounted insurance for physicians. They want to give back to professionals they see trying to help others every day. 

As busy as physicians may be, it’s crucial that everyone sets aside some time to do a car insurance check-up.

Not only do you need to understand how your premiums are determined, you also need to know what type of coverage you need to have a comprehensive auto insurance policy.

Compare car insurance options today by entering your zip code into our free comparison tool. Here’s a guide to car insurance just for doctors:

What Kind of Discounts Are Available for A Medical Professional?

The average college student studying for a four-year degree spends enough money pursuing a post-secondary education, but medical students spend significantly more. So whether you’re still in school, just graduating, or if you’ve been a doctor for decades, take advantage of all the discounts available to you to lower your insurance premium.

According to research, the average medical school graduate accrues at least $166,750 in medical school debt.

Since it takes most students 10 to 14 years to complete school and costs them hundreds of thousands of dollars, students must live on a very meager budget during their student careers. Fortunately, students are eligible for car insurance discounts.

One of the most common discounts that undergraduate students can qualify for while they’re earning their Bachelor’s degree is the Good Student Discount.

Young adults (under 25) can get this discount on their own policy or on their parents’ insurance as long as they’re earning acceptable grades.

Many of the companies offering medical professional discounts or perks like no deductible coverage on hospital grounds also offer them to medical students and residents. It’s up to each student or professional to ask.

Some carriers with special student organization affiliations may also give students in medical school these discounts.

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Why are car insurance rates for doctors so high?

Some professionals are more at-risk than others when it comes to auto accidents. You don’t even have to drive your vehicle for work purposes for your occupation to have a direct effect on your total policy premium.

While you’d think that holding a medical degree would make you less of a risk, that couldn’t be further from the truth.

Studies conducted by various insurance companies and institutes have been used to justify the fact that doctors must pay higher auto insurance rates than other professionals.

According to the studies, physicians and emergency doctors are at a higher risk of having an auto accident than the average professional. In turn, they have high occupational class ratings for auto insurance.

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Are Doctors High Risk Drivers?

Doctors are among one of the highest risk professionals in terms of auto insurance rates. Unfortunately, they’re involved in more auto accidents than many other professions. While insurance companies typically do not charge doctors more for being doctors, their premiums may end up higher anyway. Some doctors also carry extra medical protections to account for the significant impact injuries can have on their income.

Each occupation has different reasons why professionals in the field get into a high rate of accidents. Here are some reasons why doctors are high-risk drivers:

  • Doctors work long hours and often drive while they are suffering from exhaustion which makes them likely to have accidents
  • Odd working hours can leave doctors exposed to different levels of traffic at peak times of the day
  • Doctors tend to drive expensive vehicles which cost insurers more to repair
  • Doctors may be on-call and required to drive in the event of an emergency. Urgency can lead to more preventable accidents
  • Doctors work under serious levels of stress. The stress and tension can lead to poor driving habits and decisions

What Other Factors Go into Calculating Insurance Premiums?

It’s only natural to get defensive if you’re told that you’re an at-risk driver just because you’re a doctor.

Once you look over all of the reasons why doctors fall into a riskier classification, you can’t deny that certain aspects of your job do lend to the possibility that you could get into more accidents than the average professional.

Just because one of the risk factors that are used to determine your rates isn’t favorable doesn’t mean that all of the risk factors will lean that way.

There are a lot of different risk factors that all play a role in helping agents give you personal quotes. Here are other factors that can contribute to your high premiums or help drive them down:

  • Age, driving experience, gender, and marital status
  • Zip code where your vehicle is stored
  • Annual mileage and commuting distance
  • Vehicle usage and driving habits
  • Driving record and accident history
  • Insurance history
  • Vehicle type, model, and ISO class code
  • Credit-related insurance score

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Where Can Doctors Find Affordable Auto Insurance?

There’s a difference between your underwriting risk rating and a discount. The risk factors above are used by all carriers to determine your personal premium. They won’t change at all during the term.

An insurance discount is a savings applied to some or all of your coverage premiums.

Most often, discounts are given as an incentive to minimize your risk of having a loss. It is possible to lose a discount in the middle of the term, but most often your eligibility is verified each renewal.

Here are some of the most common discounts that you can ask for:

  • Multi-line
  • Multi-car
  • Prior Insurance
  • Loyalty
  • Excellent Credit
  • Professional Affiliation
  • Homeowner
  • Accident-free
  • Claims-free
  • Good Driver
  • Good Student
  • Alarm
  • Non-smoker
  • Gated Community

Depending on where you live, companies like Liberty Mutual offer a medical provider premium discount. In other words, they charge you less if they know you’re a doctor. Companies like California Casualty only cover doctors, firefighters, teachers and other “heroes” at discounted rates. Both these programs also provide additional coverage at no extra cost for drivers they’ve deemed “heroes.”

If you’re tired of paying a climbing rate with your current carrier, get instant online quotes for insurance now and compare your options.