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Which jobs have the highest insurance premiums

How much is your profession contributing to the price of your motor insurance? Quite a lot more than you might initially think! Depending on your job, your yearly car insurance could vary between £255 and an eye-watering, hole-in-pocket-burning £6800. Here is our list of highest car insurance premiums, and we'll include some of the lowest premiums at the end, you know, in case you want to change your career to avoid regularly rinsing out your bank account to keep your car on the road.

1    Mobile disco owner    £6,809.57
2    Professional footballer (apprentice)    £6,263.61
3    Diplomatic staff    £4,087.96
4    Footballer    £3,992.69
5    Nightclub owner/croupier    £3,841.29

Mobile disco owners take the biggest hit in insurance premiums, paying out a nauseating average of over £6,500 per year. This is because they tend to be out on the road late at night and are likely to be parked in urban areas where there is increased likelihood of crime. In addition to this, carrying around expensive equipment in their vehicle, automatically increases the premium. 

Maybe not so surprisingly, footballers come in with the second most expensive premiums. Many Premiership players have rather pricey, flash cars that are also often adorned with fancy and very expensive kit. Saying that, £6,200 to a Premiership footballer is probably pocket money!
According to Moneysupermarket, those paying out the most for their car insurance tend to 'live hard and fast', so insurance companies may face high cost payouts from this type of career, as the risk is higher, so is the premium. They also stated, 'insurers measure risk in a number of ways and your profession could speak volumes about your risk as a driver, according to insurance providers. Our research clearly shows that the racier your job, the more expensive your premium will be.’ This may make you wonder why diplomatic staff come in at third place.

Nightclub owners come in at fifth, alongside croupiers. The average yearly cost to insure your car in this profession would be £3,841. Similarly to the mobile disco owners, this is due to working unsociable hours and potentially parking your car in high risk areas, with an increased possibility of theft or damage. Croupiers at casinos also take a pricey premium hit due to sore gamblers losing large sums of money, blaming the croupier, and then proceeding to vandalise the croupiers car. Seemingly, croupiers get quite a raw deal. 

The unemployed also have higher insurance premiums. The assumption is made that they will be driving to job interviews regularly. This may be surprising, as for the driver, this would be a time when they can least afford it. Students are also hit quite hard due to the fact that they are less experienced, younger and therefore higher risk. The average insurance cost for a student tends to be over £1,000.

On the flip side, the cheapest premiums are available to those that insurance companies consider to be low risk drivers. These included nurses, teachers and the retired. Retired people are considered low risk thanks to, presumably having years of experience, having no claims bonuses that have built up over the years and also are likely to drive fewer miles each year.

Nurses on average pay the lowest premiums of all, with an average of just £255. According to Moneysupermarket, this is because they 'tend to be female'. This may change however by the end of this year when premiums for women will be set to rise due to the EU Gender Directive that will come into play. Once in place, this will prevent insurers from being able to use gender as a consideration when pricing cover. 

Whether you're a professional footballer, a nurse or anything in between, it may be fair to say that insurers make a lot of assumptions about your behaviour as a driver. Saying that, they need to base their prices on statistics. When searching for car insurance, be sure to accurately state your profession, it could save you a lot of money.

Insurance  22/09/2014 09:26:57

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