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.
“Car insurance companies look at many factors when calculating your insurance rates, which may include:
- marital status
- type of vehicle
- driving history
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.”
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
Do college students get discounts through State Farm?
Are there student discounts available for when I start classes in the spring? I'm on my parents' insurance policy and we use State Farm.
Jul 23, 2021
Is insurance cheaper for students?
If I'm 20 but actively enrolled in school, will it be cheaper for me to purchase insurance than if I'm not in school? I'm thinking of enrolling in a local college or community college.
Jul 23, 2021
Does a liability car insurance policy from the General cover towing?
I have a liability car insurance policy through the General, but I'm not sure if it will cover me if I break down. Does this policy cover towing?
Jul 21, 2021