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What's in a name?

Many of us are quite picky when it comes to our job titles. After all, if we have worked hard for many years to be promoted to an 'executive' position or even 'manager' then we surely want that to be reflected on our business cards. At the same time, we all want to save on our motoring costs too, choosing more frugal cars to save on fuel and those with low CO2 emissions to avoid road tax.

Many of us are quite picky when it comes to our job titles. After all, if we have worked hard for many years to be promoted to an 'executive' position or even 'manager' then we surely want that to be reflected on our business cards. At the same time, we all want to save on our motoring costs too, choosing more frugal cars to save on fuel and those with low CO2 emissions to avoid road tax. But now, new research just published from confused.com suggests that we should be careful what we say about our job title if we want to keep our car insurance premiums down.

According to the research, prices for car insurance vary wildly when job description is the only differentiating factor. Astonishingly, the average quote for a driver who describes himself as a 'car salesman' is £9,640, roughly 13 times the average annual premium of £736. Other professions that are clobbered by the insurers include car valeters at £4,817, window cleaners at £4,607 and apprentice professional footballers, who attract premiums of £4,038. Those who have more sedate job titles, meanwhile, do rather better. A state school bursar pays £372, head of personnel comes in at £393 and a senior civil servant coughs up £396.

Confused.com head of car insurance, Gemma Stanbury explains: "Whilst over the last year we have seen a drop in average car insurance prices by 9.8 per cent, there are still distinguishing factors that can affect the cost of your car premium. These factors include the type of car you drive, the area you live in, your age, your profession and your own driving history. However this does not mean that every bursar, secretary and police inspector will be able to get a cheap deal. Each driver will be quoted on their own data but your profession can significantly affect your insurance cost."

Being careful about how you describe your job could make a difference. A recent Evening Standard report points out that describing yourself as a 'construction worker' led to a premium of £782, while 'bricklayer' gave a quote of £693. An £89 saving. Similarly, an 'editor' was quoted £697, while 'editorial staff' resulted in a quote of £647, saving £50. It seems that doing some research and being careful about your job description on the insurance application could save you money but you mustn't be misleading. While many jobs can accurately and fairly be described by different titles, being dishonest could result in your insurance being cancelled or claims not paid.

 

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Back to May 2013

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