What’s the best car insurance for paramedics and EMTs?
As an EMT or paramedic, there are a lot of things to worry about both on and off the job. You’re usually working long and incredibly stressful hours — with car insurance being about the last thing on your list you want to worry about. Don't let those few precious hours of sleep be invaded with nightmares about expensive car insurance. That’s where we come in. Let’s explore the best (and cheapest) car insurance as an EMT or paramedic.
Here are our main talking points:
Where can you find a car insurance discount as an EMT or paramedic?
Lots of car insurance companies see paramedics and EMTs as ideal insurance customers. Historical data shows you guys are less likely to file a claim or cause an accident — all of which makes an insurance company pretty happy. Here are some companies that offer a discount based on your chosen profession.
There are a few things to consider about profession-based discounts. Because insurance is state regulated, unfortunately not every state will allow a discount to be based on your occupation. More granularly, insurance is rated (i.e., priced) based on your zip code. So, it’s difficult to give an exact amount of the discount for these reasons.
What are other ways to save?
Because of the reasons illustrated above, we should discuss some other ways to save on auto insurance that exists outside of your occupation. Let’s get started.
Change your coverage
Unlike an owned residence, your car depreciates in value over time. So, if you have a vehicle that is completely paid off and it’s value has depreciated significantly, you should consider if having comprehensive and collision is worth it financially. However, if you reduce coverage and are in an at-fault accident, you do not have physical coverage for your vehicle (as that would fall under collision/comprehensive). Here's a quick coverage guide if you're unsure if you need additional coverage.
- Use the NADA guide and Kelley Blue Book to determine the value of your vehicle.
- Look at the total premium of your vehicle with and without full coverage. If the additional premium for this coverage is less than the total value of the vehicle, keep full coverage.
- If you decide to keep full coverage but still want to lower your premium, consider raising the amount of your deductible. By raising your deductible, you lower your premium.
Pay smart
By paying smart, we are referring to how you pay for your auto insurance in two ways. One, if you’re able to pay for your entire premium up front (known as “paid in full”) you can receive a decent discount.
Savings Based on Method of Payment
| Savings with Paid in Full | Savings with EFT |
|---|---|
| $61 | $27 |
If you’re unable to do that, another way to save is known as paying by direct deposit or EFT. This discount eliminates the transaction fees associated with payments by debit or credit cards. These processing fees can be between $2-3 per month!
Consider telematics
Telematics, otherwise known as usage-based insurance, uses an in-car device to motor the way you drive to more accurate price you and your vehicle. While this practice isn't utilized by every state or company, it is a great way to lower your premium if you drive safely but have other rating factors working against you (such as your age or credit score). Here's a list of companies and the corresponding potential discounts.
| Company | Estimated Savings |
|---|---|
| Progressive's SnapShot | Average of $130 |
| Allstate's Drivewise | Average of 10-25% |
| State Farm's Drive Safe and Save | Up to 15% |
| Esurance's DriveSense | Varies |
| Nationwide's SmartRide | Up to 40% |
| Liberty Mutual's RightTrack | Average of 5-30% |
Bundle all policies
If you rent or own a home, you probably have a renters or homeowners insurance policy. You can save money by bundling your auto and home with the same company! This discount, known as a multi-policy discount, is pretty common across all companies and states.
Savings on Bundles
| Savings with Renters | Savings with Home |
|---|---|
| $73 | $142 |
If you don’t have a renters policy, you should consider getting a quote. While not always legally required, renters policy are usually under $200 a year and can protect you and your belongings in the event of a total loss. For more information on renters insurance, see our guide here.
If you have other policies than a homeowners or renters, such as life insurance or umbrella coverage, consider bundling those policies together as well for an additional discount.
Shop around
You are not required to finish your policy with your insurance company. So, if you find a better deal elsewhere, you can cancel your policy and your old company will refund you the remaining premium. Because of this and many other factors, it’s important to shop for car insurance every 6 months to make sure you’re getting the best possible rate. Search over 200 different companies with us here.
