Do insurance companies check your educational status?

Do insurers pay attention to education? I recently completed a Master's degree and am wondering if my higher educational status will affect my rates at all.

Answer
Car insurance companies look at many factors when calculating your insurance rates, which may include:
  • age
  • location
  • marital status
  • type of vehicle
  • driving history
  • education
Since car insurance companies use statistics to help understand risk, an advanced degree may mean you’re paying less than a driver with less education, with all other factors being equal.
This is because drivers with advanced degrees are less likely to file claims than those without.”
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Sophie Newman
Answered on Jul 23, 2021
Sophie Newman is a writer from California. Her hobbies include brewing her own kombucha, riding horses, and taking long road trips.
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