Car and van leasing company, Vanarama, have calculated how much car insurance premiums will cost this year for the top 100 most common jobs in the UK. Surprisingly, some occupations do seem to trigger serious premium rate increases over the last year, even though many of them involve working from home, thus negating the commuter journey risks.
For example Vanarama reckons that Designers have seen a premium rise of about £130 in their car insurance. Some designers might be computer based of course, others may be perhaps industrial or engineering, and so travel much more with prototypes, models etc.
The research also suggests that Administrators have seen a rise of about £132 on average. Traditionally, admin was an office based job. Many would say it’s now a WFH occupation. At the top of the list are unsocial hours jobs like Chef and Hospitality worker, most of which involves evening work and late night driving, which is obviously higher risk.
So what is the reasoning behind the research?
Vanarama doesn’t really get into it to be frank, which is disappointing. But one nugget of info is quite revealing; healthcare workers and doctors who use EV SUV type vehicles are seeing price rises, way ahead of those healthcare workers using diesel of petrol cars. The reason? Higher values of EV car replacements and repair, battery storage during repair and the ADAS systems checking and sign off, which are all part of the claims process.
Then there’s the damage done by electric SUVs that often weigh nearly three tons hitting objects, people or other cars, which is greater because all that weight and energy in motion has to be absorbed upon impact.
Maybe as public sector employees are allocated, or lease, EVs in the next decade they will find their premiums rising despite their mileage falling dramatically as they work from home?
If so, that does create a marketing problem – and a loyalty discount issue – for the insurance sector long term.