Why does car insurance exist for the higher educated?
Purchasing car insurance is obviously something that anyone can do. However, there can be differences in the amount of the premium. This is assessed on a case-by-case basis. For example, do you have many claim-free years? Then your premium will be lower than someone who has recently caused an accident. It is also true that the premium for car insurance for those with higher education may be lower. Why is this so? Isn't this discrimination then? How does it differ from normal car insurance? We are happy to inform you about these issues.
Why car insurance for higher-ups?
It may sound a bit strange that there are car insurance policies for the higher educated. Fortunately, insurers do not do this haphazardly: there is a good reason behind it. Research conducted by various insurers has shown that the higher educated claim less often. This difference with other types of policyholders is so significant that there is a special insurance for the higher educated. With insurance for the higher educated, insurers are thus targeting a specific market, based on research.
What are higher educated people?
What exactly are higher-ups in the context of these insurance policies? Many insurers follow the same guidelines here. As a rule, the following groups are considered higher educated:
- People who have completed an education at a college (HBO program).
- People who have studied at the University (WO education, bachelor and master).
Some insurers also classify people with an MBO level 4 education as higher educated.
Difference in premium with 'normal' car insurance policies
Research has shown, as indicated, that the higher educated claim less. This is a reason for insurers to offer lower premiums to the higher educated. But what exactly is the difference in premium? This obviously varies from case to case. It also varies by insurer. We therefore always recommend comparing the premiums of such insurers with "normal" insurers.
An indication can be given in this context: a premium for car insurance for higher educated people is usually between 3 and 8% lower.
This significant difference in premium is certainly worthwhile for higher educated people to investigate. After all, it would be a shame if this "premium lowering" circumstance is not taken advantage of.
Isn't car insurance specifically for the college-educated discriminatory?
Car insurance for the higher educated ... It may sound like discrimination. Why would an insurer create inequality in this way? In this context, it is worth remembering that this term should not be taken too literally. So why not? Taking out insurance amounts to covering a risk. A good insurer prefers to paint as complete a picture as possible of the "situation to be covered. This involves a case-by-case assessment. Personal matters of the (potential) policyholder are also considered. In itself not so strange: a wrong risk assessment can be very disadvantageous for the insurer. So the circumstance that level of education can lead to a lower premium is only a fact. It is only part of a much broader risk assessment. So there is no discrimination in auto insurance for the higher educated in any way. It is simply part of the way insurers work. By the way, without this accurate way of working, insurance in general would become a lot more expensive.
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Wondering if "normal" car insurance is more expensive than higher education insurance? On Alpina's website, you can easily and quickly compare car insurance policies by premium. Or contact us and we'll answer your questions!
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