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Drivers paying up to 14% of their salary for car insurance

Doormen pay 14% of their annual salary on car insurance, as they rank second for having the most expensive premiums

Posted on 22 Aug 2018

Professional footballers have the highest car insurance bill – but this equates to just 0.2% of the average Premier League salary(2).
Police sergeants rated the safest drivers with the lowest car insurance costs, which account for just 1% of their average salary(3).
Retired drivers fork out just 2% of their income on car insurance(5).
Confused.com creates go-to guide to keeping car insurance costs down – as further research reveals 30% of UK drivers saw their car insurance costs increase by £58 when they changed jobs, on average.

One of the secrets to low car insurance costs is the right job, new data reveals. However, choosing the wrong occupation could land drivers in a situation where they are paying as much as 14% of their salary, just to insure their car(1).

According to a new investigation by Confused.com, the driver savings site, doormen ranked second on the list of the 10 most expensive occupations for car insurance, paying out a whopping £3,215 on average(1). And this burden is made worse when you consider the average salary for the occupation is currently £23,078(1) – meaning they are paying out an eye-watering 14% of their yearly income to insure their car.

However, this isn’t the most expensive premium paid out by drivers in a particular job. Unsurprisingly, professional footballers top the list of most expensive car insurance premiums with costs reaching a whopping £3,920, on average for this occupation(2). But, in comparison to the average salary of a Premier League player, this is pennies. Reports suggest top flight footballers are paid £2.6 million per year(2), with just 0.2% of this going on their car insurance. Other occupations which see a fair chunk of their salary spent on car insurance include car body repairers (12%), railway guards (8%), and coast guards (8%). 

But while it may seem unfair for some drivers to be paying more than others because of their job, there are reasons why insurers rate this way. For example, doormen often work night shifts, meaning their car will be parked up somewhere overnight when secured car parks are often closed, putting them at risk of vandalism or theft. 

However, these aren’t the only factors that can cause the cost of insurance to shoot up. Take car body repairers as an example. These drivers are more likely to have cars with modifications to the body and engine, which often enhance the vehicle’s performance – a factor known to increase insurance costs. Similarly, football players are known for driving around in high-value vehicles, with extremely powerful engines, making it inevitable that they would be paying the most expensive premiums of any occupation.

But, on the other hand, there are some occupations that are certainly more favourable for drivers, seeing them pay a fraction of their salary on their insurance. Confused.com data reveals that police sergeants are deemed to be at a much lower risk of making claims due to possibly having advanced driving experience. Arguably this would make them safer drivers, therefore granting them the cheapest car insurance premiums, costing just £419, on average. And, given the average police sergeant earns almost £41,000 a year, just 1% of this is spent on insuring their personal vehicle(3). Similarly, chiropodists, who earn £31,000 per year, on average, pay just £464 for their car insurance – equating to 1% of their salary(4). And retired people, who receive almost £20,000 a year on average, pay just £475 to insure their cars – 2% of their income, leaving them more money to play with(5).

To help drivers save money on their car insurance, whatever their career choice, Confused.com has created a guide on how to lower costs. This information could be particularly helpful for those in occupations where they can’t escape inflated car insurance costs. In fact, further research by Confused.com found that almost a third (30%) of UK drivers found the price of their car insurance increased £58 when they last changed jobs, on average.

Understandably, it might be hard for some drivers to understand why their job means they are more likely to make a claim. In fact, more than a quarter (28%) of UK drivers didn’t know that the cost of car insurance can be influenced by their occupation, and almost two fifths (38%) think it is unclear why insurers rate on occupation. However, in most cases it is the nature of the job itself which is bumping up the premiums. For example, almost one in six (16%) of drivers say they leave their car in an unsecure location while they are at work, while more than one in eight (13%) say their job requires them to travel a lot of miles.

However, where there is little explanation for costs being so high, or low, for a certain job title, it is often down to the volume of claims that have been made by drivers in that profession.

Amanda Stretton, motoring editor at Confused.com, says: “Drivers in some occupations might be surprised when they learn just how much they are paying for their car insurance. And this is down to factors such as unsecure working locations, unsociable working hours or the value of cars they drive, which could all lead to expensive claims. Unfortunately this means that some drivers could be forking out as much as 14% of their salary on car insurance.

“But just because a driver is in a job that puts them at a greater risk of making a claim, doesn’t mean to say there aren’t other ways to keep car insurance costs down. So we’ve created a handy guide on how a driver can reduce their premiums, and it can be as simple as increasing the security on their car.

“There is no doubt car insurance is a burden all drivers must endure, and an expensive one too. We encourage drivers to shop around at Confused.com to find the best deal for them, where they could save up to £291(6).”

-Ends- 

Notes to editors

Unless otherwise stated, all figures taken from omnibus research carried out by One Poll on behalf of Confused.com. This was an online poll of 2,000 UK adults who drive (nationally representative sample) and are employed. The research was conducted between 1st August and 6th August 2018.

1. Average price calculated using the top five prices per quote per occupation via Confused.com between March and May 2018. According to the data, doormen pay £3,215 for their car insurance, vs. an average salary of £23,078 (based on ‘Security Guard’ - https://www.bbc.co.uk/news/business-42094604). This means 14% of annual salary is spent on car insurance. This is the biggest percentage of the top 10 most expensive premiums by occupations held by Confused.com
2. Average price calculated using the top five prices per quote per occupation via Confused.com between March and May 2018. According to the data, professional footballers pay £3,920 for their car insurance, vs. an average salary of £2.6 million (https://www.onaverage.co.uk/money-averages/average-premier-league-salary). 
3. Average price calculated using the top five prices per quote per occupation via Confused.com between March and May 2018. According to the data, police sergeants pay £419 for their car insurance, vs. an average salary of £40,856 (https://www.bbc.co.uk/news/business-42094604). 
4. Average price calculated using the top five prices per quote per occupation via Confused.com between March and May 2018. According to the data, chiropodists pay £464 for their car insurance, vs. an average salary of £31,000 (https://nationalcareersservice.direct.gov.uk/job-profiles/podiatrist). 
5. Average price calculated using the top five prices per quote per occupation via Confused.com between March and May 2018. According to the data, retirees pay £475 for their car insurance, vs. an average income of £19,000 (http://www.thisismoney.co.uk/money/pensions/article-5262331/Retirees-2018-enjoy-average-annual-income-19-900.html)
6. Based on online independent research by Consumer Intelligence (June '18). 50% of car insurance customers could save £291.98.

 


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About Confused.com

Launched in 2002, Confused.com was the UK's first price comparison site for car insurance and is one of the UK’s biggest and most popular price comparison services, generating over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include small van insurance, motorcycle insurance, car buying and selling, and car finance, as well as a number of tools designed to save drivers money on motoring.

Confused.com is not a supplier, insurance company or broker. It provides an objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the Financial Conduct Authority.

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