Follow Us: Google+
 
Bankrate.com

insurance

7 ways to drive car insurance up or down

Changing jobs
Next
2 of 8
Back
Changing jobs

In the excitement of switching employers, most people overlook the impact job change can have on their car insurance.

Two key factors can affect your premiums -- distance of your commute and business use of your car.

Typically, higher-mileage work commutes demand higher premiums. You may qualify for lower car insurance or be required to pay a higher premium, depending on whether the distance decreases or increases, and by how much.

According to Lankford, if you have a short round-trip commute, such as 5 miles, you may qualify for a low-mileage discount that is commonly set at 7,500 miles per year. If your daily commute changes to 30 miles, you will lose that discount.

Any change in the business use of your personal car can trigger a change in premiums, and it may require a change in liability coverage based on your employer's requirements.

The use of a company car also can affect the insurance on your personal car.

"A company car looks like a gift, but a couple of things probably won't be covered under the company's insurance," Hungelmann says. "For example, a co-worker hurt in an accident is not covered if he sues you. You need to add a rider to your personal (car insurance) policy to cover that."


 

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Insurance Rates



advertisement
Most Read
  1. Nick Nolte's house for sale
  2. Headlight requirements by state
  3. 8 eerie ghost towns
  4. 8 affordable, classic cars for retirees
  5. 7 sedans for the young at heart
  6. Social Security traps to avoid
  7. 7 Social Security benefits
  8. 10 cars for a midlife crisis
  9. 9 gas-only, fuel-efficient cars
  10. Top 10 states for foreclosure
Auto Insurance Averages
Product Rate
Auto - Couple, age 30
$ 1638.13
Auto - Couple, age 45
$ 2794.86
Auto - Female, age 50
$ 1505.29
Auto - Male, age 50
$ 1561.24
View rates in your area:
The National Insurance Crime Bureau reports insurance fraud rose 27 percent nationwide from 2010 through 2012.
advertisement
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.