Do Doctors Get Car Insurance Discounts?

Last Updated on August 25, 2020

Doctors play a crucial role in society. But do doctors really get car insurance discounts?

Today, we’re explaining everything you need to know about profession-based discounts for doctors and other medical professionals, including whether or not doctors get car insurance discounts.

Doctors Do Get Discounted Car Insurance

Doctors may be eligible for small discounts on car insurance. Some insurance companies offer small discounts to teachers, firefighters, nurses, first responders, and certain other professions.

Don’t expect a significant discount for being a doctor: most insurance companies offer discounts of 2% to 10% to doctors.

One study found that doctors save, on average, around $50 per year on car insurance thanks to doctor-specific car insurance discounts.

Cheapest Car Insurance Companies for Doctors

So you’re a doctor and want to pay the lowest possible rates for car insurance. Which company should you choose?

Generally, all major insurance companies in the United States are very competitive with their prices. However, certain insurance companies seem to offer particularly good deals to doctors.

USAA, for example, tends to offer the cheapest rates to doctors. They’re also one of the best-rated insurance companies in America for overall claims satisfaction and customer service. However, USAA membership isn’t available to everyone; you or someone in your immediate family needs to be an active-duty or retired member of the military. Doctors who qualify for USAA membership may pay just $1,000 per year for car insurance.

Beyond USAA, GEICO and Nationwide tend to offer the cheapest rates to doctors. The average doctor pays around $1,200 per year with GEICO or Nationwide.

America’s other largest insurance companies, meanwhile, tend to offer rates between $1,400 and $1,800 per year to doctors. Allstate, Farmers, Liberty Mutual, and Progressive all tend to offer policies to doctors within that range.

Companies Offering Doctor-specific Insurance Discounts

The companies mentioned above all tend to offer cheaper rates to doctors overall. However, certain companies offer specific discounts just for being a doctor:

• GEICO
• USAA
• Progressive
• Farmers
• Liberty Mutual
• Travelers
• Nationwide

Why Do Doctors Get a Discount on Car Insurance?

The insurance industry is all about risk. Insurance companies use hundreds of factors to calculate risk for each client.

Statistics show that doctors are less risky clients to insure than certain other professions. They tend to make fewer claims, for example, and get into fewer accidents.

The difference in risk isn’t specific to doctors; insurance companies often give discounts to anyone who has earned a high education. Statistics show that drivers with a higher level of education make fewer claims than drivers with less education. That’s why someone with a Ph.D. will generally pay less for car insurance than someone with a high school education, all things being equal.

Of course, some insurance companies do offer specific discounts to doctors. Your mileage will vary, which is why it’s important to compare car insurance quotes from multiple companies.

Is it Discriminatory to Give Discounts to Doctors?

Some argue that giving discounts to doctors is discriminatory. Why does someone with a higher level of education get to pay lower prices for car insurance?

In fact, four states have banned insurance companies from using education level to calculate car insurance premiums, including:

• California
• Hawaii
• Georgia
• Massachusetts

Other Professions Eligible for Car Insurance Discounts

Doctors aren’t the only professions eligible for car insurance discounts. Certain other people may also qualify for profession-based discounts.

Teachers, nurses, firefighters, police officers, and military personnel, for example, typically qualify for some type of insurance discount.

Car Insurance Discounts for Doctors

Yes, certain insurance companies offer discounts just for being a doctor. However, doctors can also qualify for a wide range of other discounts, including:

Bundling Discounts: Doctors who bundle home and auto insurance policies together can save 20% on both policies.

Safe Driving Discounts: Doctors who have not made a claim in three or five years may qualify for safe driving discounts.

Paid In Full Discounts: Doctors who want to pay their entire car insurance premium upfront may receive a discount for paying in full. You can save 2% to 5% by paying your car insurance premiums in full upfront, for example.

Credit Score Discounts: Many insurance companies use your credit score to calculate insurance premiums (although certain states, including California, Hawaii, and Massachusetts, have banned the practice). Doctors with a high credit score will qualify for lower insurance premiums.

Vehicle Safety Feature Discounts: Doctors who drive vehicles with strong safety ratings and safety features may qualify for additional car insurance discounts. Safe vehicles mean fewer injuries for drivers and passengers, and that means lower claim costs for insurance companies.

So Can Doctors Get Car Insurance Discounts?

Yes, doctors may be eligible for discounted rates on car insurance. Many insurance companies offer discounts specifically for doctors. Most insurance companies also offer discounts to anyone who has completed a higher level of education. Statistics show that doctors and others with a higher education tend to be less risky clients to insure.

Compare quotes online today to insure you’re taking advantage of doctor car insurance discounts.