How Your Education Influences How Much You Pay For Car Insurance
Posted on 12. Aug, 2010 by admin in Policy influences
Education also plays a role in determining the cost of a person’s premium. Adults without a high school education will pay more and in some states teachers will receive discounts on their car insurance. Education can be a very powerful thing when it comes time for insurance companies to determin how much you’re going to pay, although this factor is a catch twenty-two. Reason being, a student will pay more than a non student. The reason for this is because the insurance company factors in the time spent on the road, distance traveled and the lifestyle of a college student versus that of a non college student and they come up with statistics showing higher rates of accidents and traffic violations by college students and near college campuses. However, four years later when that “high risk driver” gets their bachelors degree their premium will go down and a college graduate will pay less than a non-graduate.