CHESTER, England, October 30, 2012 /PRNewswire/ --
- MoneySupermarket reveals the professions paying the least and the most for car insurance
- Nurses get the best deal of all professions, but retirees benefit from the cheapest premiums overall
The UK's number one comparison website analysed the cost of car insurance across different professions, and found nurses pay the least for cover at an average of £255 a year.
Analysis of over 16 million quotes over the past year for the MoneySupermarket Monitor on Car Insurance* found that guest house proprietors and reflexologists take the second and third spot for the cheapest car insurance premiums. A number of public sector workers feature in the list including magistrates, school crossing wardens and head teachers. The nation's retirees pay the least overall, with typical cover costing just £253 for the year - whereas motorists registering themselves as unemployed will be charged an average £773 a year. Unfortunately those who have to class themselves as unemployed are seen as a high risk to insure.
Racing drivers pay the price for their reputation on the track as they top the table for paying the most for cover. Footballers and other sportsmen take second and third spots.
Pete Harrison, car insurance expert at MoneySupermarket.com said: "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.
"It is not surprising that students, and apprentices are hit by high premiums as they are likely to be young, inexperienced drivers. Retired drivers on the other hand are considered less risky as they have years of experience, built up no claims bonuses and are likely to drive fewer miles each year. Those who are unemployed appear to get hit from both sides; especially if they need to drive to find work and attend job interviews, yet insurers tend to charge a lot more for this type of driver, at a time when the case may be that they can least afford it.
"Currently, the typical saving made by those using MoneySupermarket to take out their car insurance is £411** so shopping around for the right policy that matches your requirements is a job worth doing."
Notes to editors:
* MoneySupermarket Monitor on car insurance: http://www.moneysupermarket.com/car-insurance/monitor/
Quotes run on the MoneySupermarket website between June 2011 and June 2012.
Top ten professions registering the most expensive car insurance premiums:
No. Profession Average cost 1 Motor Racing Drivers and Organisers GBP1,591 2 Footballers GBP1,554 3 Other Sportsmen GBP1,444 4 Funfair Employee & Theme Park Workers GBP1,326 5 Canvasser GBP1,319 6 Scrap Dealer GBP1,198 7 Exotic Dancer GBP1,118 8 Disc Jockey GBP1,080 9 Television Presenter GBP1,065 10 Students & Apprentices GBP1,059
Top ten professions registering the cheapest car insurance premiums:
No. Profession Average cost 1 State Enrolled Nurse GBP225 2 Guest House Proprietor GBP264 3 Reflexologist GBP273 4 Distillery Worker GBP280 5 Coastguard GBP280 6 Bursar GBP284 7 Magistrate GBP291 8 Matron GBP294 9 School Crossing Warden GBP301 10 Head Teacher GBP302
** Based on online independent research by Consumer Intelligence during 01 August 2012 to 31 August 2012
MoneySupermarket.com compares (at 30th Aug 2012)
- 107 car insurance providers and 82 home insurance providers
- 12 broadband providers and 18 energy providers
- 32 unsecured loan and 6 secured loan providers
- 62 mortgage lenders and 28 credit card providers
- 66 savings providers and 37 current account providers.
- Over 1,200,000 mobile phone deals
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