Car Insurance for Engineers

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Key takeaways...
  • Insurance companies offer better car insurance rates to individuals who work in preferred occupations
  • Engineers that work in any setting are believed to fall into the preferred occupation class like educators and nurses
  • Your occupation is used as a rate determinant because some professionals have a higher risk exposure than others
  • The type of vehicle that you drive can impact your rates because of its ISO symbols and loss experience data
  • Engineers may also qualify for discounts on their insurance for holding a bachelor’s degree or higher

Professional engineers pay less than the average consumer for a comprehensive auto insurance policy.

While most won’t complain that they’re paying lower than average rates, it’s reasonable for you to wonder why your rates are more affordable when you’re working in the field of engineering.

What the average consumer doesn’t know is that your insurance rates are directly related to things like your level of education and your occupation.

If you’ve recently graduated from school or you’ve been working in the field of engineering for a decade or more, you need to review your auto insurance to be sure you’re being rated properly.

Every state has its own rules and rating practices that you’ll have to learn.

See how much you could save on the coverage you need by using our car insurance comparison tool above.

Here’s a guide to help you search for the right insurance as an engineer:

Engineers May Qualify for Discounts

There’s a pretty short list of professionals who qualify for special discounts or preferred ratings. Many of the providers that offer occupation-related discounts do so because they are directly affiliated with professional associations.

Here are some of the professionals who are eligible for auto insurance discounts:

Why does occupation matter so much?

As an engineer, your specialty is using the principles of engineering to develop different economical solutions for technical life problems.

You may be a scientific problem solver, but that doesn’t mean that you understand how insurance actuaries develop insurance rates.

As much as your occupation seems to be irrelevant, in most states it’s very relevant.

Auto insurance rates are directly related to loss experience and loss exposure. You might not have experienced losses, but insurers will use data from a large group of drivers in your risk class to see the average rate of claims.

Data shows that some professionals are in preferred classes because they have a low loss experience rate because of their work setting, stress levels at work, vehicle types, and the average age of professionals in the field.

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Why are engineers in a low-risk rating group?

Engineers have a great relationship to risk. Compared to other occupations, engineers get lowered rates because of other drivers in their profession file a lower number of claims than averages reported by most other professionals.

Not all car insurers offer occupational discounts and preferential rates, but the best thing that you can do is shop around.

You have to step outside the box and really look at your driving habits to see why you’re going to pay less than someone who works as a doctor or a DJ.

Here are some of the reasons why engineers don’t file as many claims as the average driver in another profession or occupation:

  • Engineers often work regular work hours and don’t work in the middle of the night
  • Engineers usually don’t work on-call
  • Engineers work in a less stressful environment than the average professional
  • Engineers work in officers that aren’t always located in a metropolitan area
  • Engineers have college degrees and are often experienced drivers
  • Engineers understand mechanical applications and are often better at avoiding potential collisions

Choosing the Right Insurance

It’s very important that you shop around for the best rate no matter what field you work in. You may be eligible for discounts off of your premiums just for the title that you hold, but some carriers have higher base rates than others.

Without shopping around, you could get stuck paying hundreds or thousands more each year for the same level of protection. By shopping around, you’ll be able to find a carrier with the best deal for you.

Take Advantage of Education Discounts

While you’re shopping around, you need to be sure you’re getting all of the discounts that you’re eligible for on your insurance quote. Another discount that’s available in most states is the education discount.

It’s not a basic universal discount for anyone who has completed high school, but a discount based on your level of educational attainment.

Engineers must possess a minimum of a bachelor’s degree to pursue a position with some of the best companies. Some carriers require an advanced degree in engineering as well.

Having your bachelor’s degree will help you keep your rates low but having a master’s degree will qualify you for bigger savings.

Look for Association and Alumni Discounts

In addition to the occupation discounts and the education discounts, you may be able to save money by being a member of specific associations.

If you are a member of a fraternity or sorority, there could be student discounts available to you. The best bet is to contact your student affairs office to see if they recommend an insurer.

The National Association of Professional Engineers (NAPE) is a professional association that helps advance the field of engineering. If you’re a professional member of the organization, you might be able to qualify for a reduced rate that’s very similar to paying a group rate.

Check to see if there are any insurance affiliations.

Coverage Selection is the Most Important Thing

You’d love to save money on your insurer but saving money should never leave you vulnerable to loss. You should always focus your time on choosing sufficient limits first and foremost. Those limits include:

  • liability limits
  • medical payments
  • uninsured motorist
  • physical damage

Getting car insurance as an engineer is easy. It’s not the getting insurance that you need to worry about, it’s finding the best deals through a respected carrier.

When you’re interested in shopping the market for a good deal, you need to use our online rate quote tool and get instant rate quotes in just a few minutes. Enter your zip code below to begin.

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