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Recent research released by Your Money has shown that insurance companies place a lot of value on motorist’s job title when calculating their car insurance quote.
By changing the wording in that you use to describe your job role you could save up to a quarter on your car insurance premium.
Insurance companies feel that your line of work will affect the value of any insurance claim that you make and jobs such as window cleaner are seen as more of a high risk. Although your job often has no bearing on your driving experience, it can affect the quotes you receive by literally thousands of pounds.
An example provided in the research states that a window cleaner’s quote came back over £4,000 more expensive than a school bursar’s…even though the same car make and model and postcode were provided.
Of course other factors will affect your quote, such as your age, driving experience and previous claims. However this information can not be changed or worded differently like your job title which can quite honestly be described in a number of different ways.
Another example of how much money can be saved by “tweaking” your job title was found when a fictional driver was created by Your Money using the job title “fasion photographer”. Their imaginary fashion photographer was quoted £487 for cover, but by changing the job title to simply “photographer”, a saving of £127 was accomplished as the premium dropped to just £360.
By trying different descriptions for your job you can make great savings without providing incorrect information on your application.
