Best Car Insurance for Doctors
Do doctors get car insurance discounts?
Medical professionals earn an average savings of $19 per six-month auto insurance policy. While your occupation isn't the most impactful contributor to insurance premiums, it does make a difference. Insurance companies see doctors and healthcare professionals — and clients with more education in general — as less risky drivers, making them less expensive to insure.
Let's review some ways to find better auto insurance rates as a doctor or healthcare worker.
Cheapest insurance companies for doctors
Your best bet for finding cheap car insurance as a medical professional is USAA. With an average rate of $545 for a six-month policy, USAA is $189 cheaper than the group average.
Auto insurance data methodology
The auto insurance rates published in this guide are based on the results of The Zebra's State of Insurance car insurance pricing analysis. This analysis of more than 83 million insurance rates spans every U.S. ZIP code, using a sample user profile: a 30-year-old single male driver with a Honda Accord, good credit and full coverage at these levels:
- $50,000 per person/$100,000 per incident for bodily injury liability
- $50,000 per incident for property damage liability
- $500 deductibles for collision and comprehensive coverage
To generate pricing for particular rating factors, we adjusted the driving profile based on common pricing factors used by major car insurance companies. These factors include credit score, coverage level, driving record and others.
In some instances, average rates from Liberty Mutual were derived from internally sourced sales data.
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Why do doctors pay less for auto insurance?
Insurance companies do not use income as a factor that helps to determine how much a client pays. Doctors may earn more than an average person, but insurance companies don't raise their rates accordingly.
Many insurance companies do predict risk through the filter of educational attainment in an effort to estimate the probability of their needing to cover a claim payout. Insurers see drivers with more education — such as medical professionals — as less likely to take risks when driving. To an auto insurance company, less risk equals fewer expenses.
|Education Level||6-Month Premium|
Those with higher levels of education — often employed as engineers, doctors, lawyers, and Ph.D. scientists — pay less for car insurance than do those in occupations requiring fewer credentials.
Is using education level to price car insurance a discriminatory practice?
California, Hawaii, Georgia and Massachusetts do not allow the use of education level in determining car insurance rates. These states consider this rating practice discriminatory. The difference in insurance pricing between education levels is typically negligible. Depending on your insurance provider, there might not even be a difference.
|Occupation||Average 6-Month Premium|
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How doctors can save on car insurance
Insurance can be expensive regardless of what you do for a living. Here are some suggestions on how to save on your car insurance policy.
Bundle multiple policies
If you have renters, condo, or homeowners insurance, cover all your assets — cars included — with one company. This will result in your receiving a multi-policy discount and limit the number of insurance providers you have to deal with.
Be smart with your claims
In some scenarios, it makes financial sense to pay your costs out-of-pocket after a collision. An at-fault insurance claim can raise rates an average of $665 per year (2021 average).
This post-claim penalty can stretch for as long as three years, adding up to as much as over $2,300 in additional premiums. If you’ve been in an accident and aren’t sure how to handle the insurance or the claim, consider the following:
- Get a cost estimate for the damage independently.
- Use The Zebra's State of Insurance analysis to see how much an at-fault accident would raise rates in your state. Again, consider this surcharge over three years.
- Compare the three-year surcharge value plus your deductible to the out-of-pocket expenses you learned in step one. If it is cheaper to pay for your claim out-of-pocket, do that.
*Depending on policy stipulations, you may need to inform your insurance company of the accident. This may cause your rates to increase. If your insurance company drastically increases your rates before you inform them of an accident, consider this an opportunity to do some car insurance comparison shopping.
For additional information on when and when not to use your insurance coverage, see our comprehensive guide to insurance claims.
Be smart with your coverage
By this, we are referring to the sad truth that cars depreciate over time and so will the right coverage. So, if you have an older vehicle, it might not require the same coverage that a newer vehicle would — specifically referring to comprehensive and collision insurance.
Use Kelley Blue Book or NADA online to determine the value of your vehicle. Generally, if a vehicle is worth less than $4,000, you may not need comprehensive or collision. If you decide to drop these coverages, consider adding uninsured motorist property damage coverage. This will protect your vehicle if it is damaged or totaled by an uninsured motorist or a hit-and-run incident.
Keep your credit score high
In most states, your credit score is a major factor in determining your car insurance rates. Having good credit can save you substantially.
Telematics — or usage-based insurance — utilizes a plug-in device to monitor the way you drive and generate an accurate premium. Rather than using data that isn’t directly correlated to your driving, telematics can illustrate to an insurance company what kind of client you will be and more accurately determine your premium. Here are some potential savings.
|Progressive SnapShot||Average of $130|
|Allstate Drivewise||Average of 10-25%|
|State Farm Drive Safe & Save||Up to 15%|
|Nationwide SmartRide||Up to 40%|
|Liberty Mutual RightTrack||Average of 5-30%|
|Root Car Insurance||Varies|
|Metromile Car Insurance||Varies|
Please note: these programs are not available in every state.
You could do all of the above and still be paying too much for car insurance simply because you’re with the wrong company. Comparison shopping is a great way to shop rates and find the best car insurance coverage. Use The Zebra to compare car insurance quotes and find a great policy at an affordable cost.
Compare car insurance quotes today.
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.