Although occupation doesn’t affect a car insurance premium much, some insurance carriers offer discounts for occupational and organizational affiliations, such as being a doctor, medical professional or healthcare worker.
When comparing coverage and rates, the cheapest full coverage car insurance rate is often the best option for a doctor’s car insurance. If you’re unsure if your insurance company offers a discount, ask your agent. When comparing coverage and rates, the cheapest full coverage car insurance rate is often the best option for a doctor’s car insurance.
Rather than trying to find an insurance policy that is specifically for doctors, you are better off searching for the cheapest full coverage car insurance. Not only can you get coverage faster, but you can also potentially save even more with additional discounts like safe driving and bundling home and auto insurance. Most carriers allow stacking discounts, which can help you maximize savings when comparing quotes for car insurance for doctors and other professions.
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Key Takeaways
The cheapest car insurance company is GEICO for doctors’ car insurance.
Although doctors may get an occupational discount, finding the cheapest company offering the coverage you need is the best option.
Healthcare workers can save on car insurance by shopping around, raising deductibles and getting rid of unnecessary coverages.
Cheapest Car Insurance Companies for Doctors
We set out to find the cheapest car insurance companies for doctors. Our sample quotes were based on a 40-year-old man with no claims history and a clean driving record. We found the cheapest doctors’ car insurance is from State Farm. Since occupation only has a minimal effect on an auto insurance premium, it’s best to find the cheapest car insurance companies offering the coverage you need rather than a company offering a car insurance discount for doctors.
Average Annual Premium for Different Providers
Company | Average Annual Premium |
|---|---|
Farmers | $1,192 |
Allstate | $1,124 |
Progressive | $1,120 |
Travelers | $1,037 |
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How Doctors Can Save on Car Insurance
Doctors and other medical professionals can save on car insurance by taking advantage of available discounts — not just those available for healthcare workers. To make shopping around easier, use the MoneyGeek calculator to estimate the cost of car insurance to get an idea of what you might pay for coverage. Consider these ways to save when searching for car insurance for medical professionals.
Shop Around
Whether you’re searching for the cheapest rate or focused on getting the exact coverage you need, shopping around and comparing quotes from several carriers is the best way to get what you want at the best price.
Remove Unnecessary Coverages
Before gathering quotes, you should know how much coverage you really need, so you’re not paying more than you need to for doctors’ car insurance. For instance, if you drive an older car that isn’t worth much, you may no longer need comprehensive and collision coverage (full coverage).
Increase the Deductibles
Another way to save is to increase the deductible for comprehensive and/or collision coverage. Although raising your deductible can lower your premium, you’ll have to pay more out of pocket if you file a claim.
Ask About Discounts
Discounts that you may qualify for can help you save on car insurance. Some common auto insurance discounts you may be eligible for include bundling home/renters and auto, safe driving, multiple car and automatic payment.
Even having a car with airbags and/or anti-lock brakes may get you a discount, as can an anti-theft device or having low mileage per year.
How Much Is the Average Doctor's Car Insurance?
So, how much is insurance for doctors? Not much different than for other professions because being a doctor may only make a small difference in how much you pay for car insurance. The average cost of car insurance for a 40-year-old male with no claims, tickets, or at-fault accident is $987 based on PBI National Coverage Baseline annual average.
How Much Is Doctor’s Car Insurance Based on Credit Score
Although car insurance for healthcare workers may be cheaper with an occupation or affiliation discount, depending on what state you live in and how car insurance rates are calculated, your credit score may negate that discount. A good FICO credit score is 670-790. If you have a poor credit score (FICO score of 300-579), you could end up paying more for coverage, even with a car insurance discount for doctors on your policy.
Average Doctors Car Insurance Rates by Credit Score
Credit Score | Annual Premium |
|---|---|
Good | $1,163 |
Good | $1,301 |
Poor | $3,488 |
Poor | $3,982 |
How Much Is Doctor’s Car Insurance Based on Driving History?
Driving history can have a major effect on auto insurance for healthcare workers and any other professional. For instance, if you have a DUI, an at-fault accident or just a speeding ticket on your driving record, it could mean the difference between paying a cheap rate for doctors’ car insurance or a high premium.
Doctor's Car Insurance Based on Driving History
Driving Record | Average Annual Premium |
|---|---|
DUI | $2,004 |
Clean | $1,150 |
Accident | $1,675 |
Speeding Ticket | $1,440 |
Do Doctors Get Car Insurance Discounts?
Yes, some companies offer a car insurance discount for doctors and other healthcare workers. These discounts are occupational discounts, like the car insurance discount for nurses. When getting auto insurance as a doctor or other medical professional, ask the insurance company about these types of discounts. If an occupational discount isn’t available for doctors, consider an organization affiliation discount, like being a member of the American Medical Association (AMA).
Frequently Asked Questions
Finding the best, cheap doctors’ car insurance doesn’t have to be hard, especially if you consider discounts. Here are answers to some common questions about auto insurance for medical professionals.
About Mandy Sleight, Licensed Insurance Agent
