Driving Experience and Occupation

Statically young drivers have higher accident rates compare to mature drivers and same goes to male and female drivers as the driving patterns and traits are different. Most insurer would impose high excess of $2,000 for young driver. On the other hand most insurer are quite reluctant to over drivers who have reach a certain age. For old age drivers, some insurers may ask the driver to go for a medical check up to prove medically fit to drive. In such case most insuers would either charge a loading on the premium or impose a higher excess on old age drivers.

Rating for driving experience is not an important factor for drivers with more than 2 years of experience. Normally additional excess may be imposed on inexperienced drivers with driving experience less than a year. As far as premium is concern it does not really matter if you have 30 years or 20 years experience as long as you are more than 2 years experience. I often get people fighting over 1 or 2 years experience which does not even make any difference in terms of premium.

On the other hand occupation in one of the factor that affect the difference in premium. Basically, occupation enable the underwriter to assess on the insured risk. In the case of a marketing executive who might need to entertain clients frequently may have the risk of being involved in accidents due to drunk driving. Compare to occupations such as teacher, admin clerk, who spent most of their time indoor have lower their risk by not being on the road. Generally occupation are being classified into  indoor and outdoor occupation and it is heavily weighted in terms of car insurance premium.

I hope the above solve some of the doubts especially in terms of driving experience, occupations and age. Feel free to post any question and comments. Thank you.

Powered By “Car Insurance Singapore“