Car Insurance for Healthcare Professionals
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UPDATED: Jun 29, 2022
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- Many insurance companies offer a discount to healthcare professionals
- Insurance coverage should include not only state minimums but also collision and comprehensive coverage
- Auto theft and other considerations need to be taken into account when shopping for a policy
Working in the healthcare industry is often very rewarding. Even if you’re not directly responsible for saving lives, you get to help people every day.
You might work long hours, but it’s an industry where you can grow and explore new facets all the time.
Regardless of whether you’re a doctor, a nurse, a paramedic, or hold any other position, you need to consider the various discounts you might qualify for as well as the best coverage to keep you protected through the year.
Compare car insurance quotes to find the best rate for the coverage you need.
The Variations within Healthcare Professionals
There are a variety of different healthcare professionals out there. It’s important to look at how the differences between positions will affect your car insurance policy.
Doctors and surgeons, for example, earn a higher salary. As such, they might drive more expensive cars and might want to increase coverage to a higher level.
Other healthcare professionals, such as EMTs and RNs, are likely to work long hours. They could be tired by the time they come home from work and this puts them at higher risk for being involved in an accident.
Additionally, EMTs and paramedics are in riskier positions and this risk could cost them more on their insurance premiums.
You have to look at what your position involves and how it’s going to impact insurance, such as:
- Income level
- Type of car you drive
- The number of hours you work per shift
- The risk level of your job
Your zip code plays a role in the cost of car insurance, too. While you might want to live close to the hospital or another healthcare facility where you work, it might not be the best move.
If you work in a major city that is known for traffic congestion and a large number of accidents, it might be better for you to live on the outskirts and have a longer commute.
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Potential Discounts for Healthcare Professionals
Healthcare professionals are often able to get discounts from car insurance companies. Getting discounts requires proof of employment, such as a letter from a hospital or a copy of a pay stub.
Every insurance company differs in terms of what they require. Additionally, not all insurance companies offer a discount.
If you are in the healthcare industry, it’s a good idea to look for a discount. It’s a way of saving money on your policy. When you save money, it might also allow you to add more to your coverage. This ensures you have a higher level of protection.
If you drive a leased car, your lienholder might require you to have additional coverage. Most commonly, these requirements include collision and comprehensive coverage.
It’s a way of ensuring that there is a higher level of financial protection in place. It also keeps the car in better condition so that when it is returned to the dealer, it has a high value.
Insuring a leased car might be more expensive than if you own a car outright. As such, finding an extra discount, such as one that is employment-based, can be a great way to save you some more money on your monthly premiums.
Finding the Coverage That Matters
It’s important that you look at the coverage needed within your policy. Your coverage will include the state minimums at the very least.
You can then choose to increase the liability limits for bodily injury and property damage. You can also look at adding:
- Comprehensive coverage
- Collision coverage
- Uninsured motorist
- Rental car coverage
Your salary might play a role as to what you can afford. Additionally, you have to look at what lienholders will require if you are leasing a car or paying on a loan.
You are going to work long hours in many instances. Even if you are alert, all it takes is looking away for one moment to get involved in an accident.
This accident could be with another vehicle or with a stationary object such as a guardrail or telephone pole. It’s critical to have a high level of liability coverage as well as collision coverage on your policy.
It’s important to look at what an accident could cost in terms of vehicle repairs and medical bills. It’s easier to pay a little more per month and have the insurance company cover all of the expenses after a deductible than you having to pay out of pocket.
As such, you want to raise liability levels beyond state minimums whenever possible so you can minimize the likelihood of having to pay out of pocket. Otherwise, you run the risk of having to pay thousands of dollars if an accident exceeds the limits that are in place with your policy.
Additionally, many healthcare professionals earn a good living and therefore reward themselves with luxury vehicles. When you have a higher value vehicle, you have to be aware of auto theft.
You can add protection to your policy to cover against vehicle break-ins as well as theft.
In the end, car insurance for healthcare professionals is obtainable at an affordable premium. You have to take the time to determine what kind of coverage you need to have financial protection in place.
With various discounts available, you can then get multiple quotes and make comparisons to get an affordable premium. Enter your zip code below to compare right now.