Car Insurance for Doctors

While you fight the common cold, we'll fight for better discounts for you.

What's car insurance for doctors?

While your occupation isn't directly connected to your insurance premium, it does have an impact. On average, those who have completed an MD/PhD education program pay less for car insurance than those who have not — while maintaining all other variables constant. Insurance companies see people with higher levels of education as less risky drivers — thus making them a less expensive client. Still, car insurance isn't a $220 billion industry because it's cheap. So, let's explore some ways to save on auto insurance as a doctor.

Why do doctors pay less?

There is a lot of misinformation regarding why certain occupations pay less for auto insurance. First and foremost, insurance companies do not use your income to determine what you pay. So, just because doctors typically make more than your average person, insurance companies don't hike up the price just for them.

What many companies do, however, is view driving patterns through the filter of education level to predict what kind of customer you could be for them. Basically, they see drivers with more education as less likely to take risks when driving. And, to an insurance company, less risk equates to fewer claims payouts for them.

National Average Annual Auto Insurance Premiums by Level of Education

None High School Bachelors Masters PhD
$1,355 $1,342 $1,323 $1,320 $1,319

As you can see, those with higher levels of education such as engineers, doctors, lawyers, and PhD scientists, pay less than certain occupations that require less education.

Companies that offer specific discounts

As insurance is regulated on a state basis, not every company will offer you a discount based on your occupation. Still, here are some popular companies that offer it.

Other ways to save

At the end of the day, insurance is expensive regardless of what you do for a living. Even though doctors are well compensated for your work, saving money is saving money. Here are some suggestions on how to save.

Pay smart

If you’re able to pay your premium up front, you can save $61 a year! You can also save $27/year by paying directly with your bank account.

Savings Based on Method of Payment

Savings with Paid in Full Savings with EFT
$61 $27


By keeping it in the family, i.e., keeping all your insurance policies with the same company, you could earn a multi-policy discount. The more policies you bundle with your company, the more you could save!

Savings on Bundlings

Savings with Renters Savings with Home
$73 $142

Drive safe

Having at-fault accidents, claims, or other violations on your driving record can seriously hurt your insurance premium. As a general rule, most claims will impact your insurance rate for 3 years and could impact your ability to qualify for other discounts and coverage options. Driving safe will ensure your rate remains as low as possible.

Average Increase in Annual Premium in 2016

Accident/Violation 6 Month Premium Increase
Speeding 11 - 15 MPH Over Limit $141
Speeding 16 - 20 MPH Over Limit $153
Speeding 21 - 25 MPH Over Limit $165
At-Fault Accident $306
Reckless Driving $499
Racing $523
DUI $529

Be smart with your coverage

By this, we are referring to the sad truth that cars depreciate over time. 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. Here are some easy steps to consider when thinking about your coverage options.

  • Using Kelley Blue Book as well as the NADA (National Automobile Dealers Association), determine the market value of your vehicle.
  • Using the information from option 1, look at the difference in price between having full coverage (comprehensive and collision) and having only liability. If the amount of money you save in premium from losing full coverage is not enough to cover or replace your vehicle (which you determined from option 1), keep these coverages.
  • If you determine that you still need comprehensive and collision coverage, consider raising your deductible. By raising your deductible, you lower your premium as you assume a greater amount of financial responsibility if your vehicle is totaled.

Consider telematics

The use of telematics is a growing trend in insurance technology. Basically, telematics are plug-in devices that monitor the way you drive to generate a more accurate premium. Rather than using data that isn’t always reflective of how you drive, telematics can accurately tell your insurance company what kind of client you will be for them, thereby accurately determining your premium. Here are some potential savings.

Company Estimated Savings
Progressive's SnapShot Average of $130
Allstate's Drivewise Average of 10-25%
State Farm's Drive Safe & Save Up to 15%
Esurance's DriveSense Varies
Nationwide's SmartRide Up to 40%
Liberty Mutual's RightTrack Average of 5-30%

Be aware: these programs are not available in every state.

Shop around

You could do all of the above and still be paying too much for car insurance simply because you’re with the wrong company. Only with The Zebra can you shop hundreds of different discounts at once to see the cheapest rate. Get started today.

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Recent Questions:

Car Insurance for Doctors

I was injured after an accident. How can I get compensation for this?

Dec 01, 2017

I got rear-ended which resulted in pain in my back and shoulder pain. I haven’t been to the doctor but ...

Why did my insurance company pay another driver for half of his damage after an accident when the police said we were both at fault?

Sep 10, 2017

The two trucks touched bumpers causing minor damages. The other driver said his back was sore, so they gave him ...

If I’m involved in an accident with a passenger in my vehicle, are they covered?

Jul 29, 2016

I’m going to be taking my neighbor to a doctors appointment and want to know if he will be covered ...

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Car Insurance for Doctors

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