Does having a college education help you save on car insurance?
When your auto insurance provider calculates your rates, they will take various factors into account. Many drivers are surprised to learn that their education level is one of the things considered. But how exactly does your education affect your rates? Here’s what you need to know.
- How Your Education Level Affects Your Auto Insurance
Some auto insurance providers will look at your level of education when determining your rates because studies have shown that drivers with advanced degrees are less likely to make a claim. This means that assuming all other things are equal, a driver with only a high school diploma may pay more for car insurance than a driver with a master’s degree.
- Using This System to Your Advantage
While the practice of using your education level to determine your car insurance rates is questionable, there are ways that drivers can use this system to their advantage. For instance, if you do have a higher degree of education, then you should secure coverage from a company that does factor in education level when calculating rates. This will allow you to access savings on your insurance. However, if you do not have any post-secondary education, then look for insurance companies that will not use your education level as a premium-determining factor. This will ensure that you are not overcharged for your coverage.
This is what you need to know about education level and your auto insurance. Do you have more questions about your car coverage? If so, then contact the experts at ISU-Wissink Insurance in Culver City, California. We are ready to assist you with all your auto insurance needs today.