Your occupation has a major effect on your insurance quote. At any one time, different jobs are considered more risky than others. Journalists, for instance, are often considered high risk. Why? Who knows? Maybe because journos tend to cover wars, or road test motorcycles, or spend too much time inside a bottle. But somewhere, in some computer memory bank, there's a black mark against members of the news media.
Dangerous occupations mark you as a high risk to insurers. Dangerous occupations suggest that you're prepared to take risks than others won't. And yet, perversely, you might get a discount for being a police officer or a member of the military. Dangerous occupations mark you as a high risk to insurers. Dangerous occupations suggest that you're prepared to take risks than others won't. And yet, perversely, you might get a discount for being a police officer or a member of the military.
Meanwhile other apparently innocuous occupations can make a big difference. Therefore, you should always ask about the relevance of your occupation. There are subtleties at work here.
For instance, you might work in a shop selling agricultural machinery, and as part of your job you occasionally help install said machinery. You ask for an insurance quote, and the insurance firm asks for your occupation. Shop worker will get you one price. Machinery installer will get you another. But you canít always predict what job will flag a warning to the insurer.
Decisions relating to occupation are generally logical, up to a point. But the logic isn't always clear. Take ... well, take home insurance. If you tell the insurer that you're at home most of the day, you might expect a lower quote. Why? Because with you at home, there's not much chance of a burglar.
However, the insurer might see it differently. The insurer figures that most accidents occur in the home, so being home is risky. Also, you might set fire to the curtains when using the chip pan. Or you might have too many electrical gadgets on at once and overload the electrics.
A similar thing works when you tell the insurer you want third party insurance only. You think you're saving them money, so your premiums should be lower. But the insurer sometimes figures that you're a cheap bastard who's more likely to behave irresponsibly. In other words, responsible people insure for ALL losses. Tearaways and hooligan buy only the minimum cover required under law.
Is that logical?
You tell us.
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