Auto Insurance for Psychiatrists (Rates & Discounts)
Auto insurance for psychiatrists is about $2,174/yr, but rates vary for each person. Although psychiatrist car insurance is expected to be cheaper than average, car insurance quotes for psychiatrists are determined by various factors, including credit history, driving record, and vehicle. Shop around and compare auto insurance quotes for psychiatrists to secure the best rates.
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Written by
Rachel Bodine
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Reviewed by
Leslie Kasperowicz
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UPDATED: Apr 29, 2021
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- Auto insurance for psychiatrists can be more expensive than average if they drive more than average
- GEICO and State Farm have cheap psychiatrist auto insurance rates under right the factors
- You can save money when you bundle auto insurance with other insurance products
Auto insurance for psychiatrists is just as affordable as librarian auto insurance – it all depends on risk.
The psychiatric industry has a low risk of auto insurance accidents and filed claims. However, each situation is different.
Read through this guide to learn how to compare auto insurance quotes, what factors lead to the best discounts, and what insurance products are excellent for bundling.
Do you want to see what auto insurance quotes for psychiatrists look like right now? Enter your ZIP code in the free comparison tool above to compare multiple companies near you.
Table of Contents
How much are auto insurance rates for psychiatrists?
Psychiatrists have high-earning potential, but car insurance companies are more focused on risk. Psychiatrists that travel more than the average may have higher than average rates.
However, psychiatrists are known to have better credit scores than most and pose fewer risks of filing claims.
According to Experian, the best auto insurance companies correlate good and excellent credit to fewer chances of filing a claim. What does the cost look like per year? Let’s review.
| Companies | Good Credit History Average Annual Rates | Fair Credit History Average Annual Rates | Poor Credit History Average Annual Rates |
|---|---|---|---|
| USAA | $1,821.20 | $2,219.83 | $3,690.73 |
| State Farm | $2,174.26 | $2,853.00 | $4,951.20 |
| Geico | $2,434.82 | $2,986.79 | $4,259.50 |
| American Family | $2,691.74 | $3,169.53 | $4,467.98 |
| Nationwide | $2,925.94 | $3,254.83 | $4,083.29 |
| Farmers | $3,677.12 | $3,899.41 | $4,864.14 |
| Progressive | $3,628.85 | $3,956.31 | $4,737.64 |
| Travelers | $4,058.97 | $4,344.10 | $5,160.22 |
| Allstate | $3,859.66 | $4,581.16 | $6,490.65 |
| Liberty Mutual | $4,388.18 | $5,604.24 | $8,802.22 |
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Do you see how much car insurance changes between credit levels? Although there may be several psychiatrists with fair and poor credit, most psychiatrists are low-risk drivers.
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What factors can lead to cheap auto insurance quotes for psychiatrists?
The quickest way to affordable auto insurance for psychiatrists is through a clean driving record. No infractions or claims on your driving history can open the road to less than average car insurance.
According to the National Association of Insurance Commissioners (NAIC), the average cost of full coverage auto insurance is $1,080 per year ($90/mo). But other factors go into your policy, which increases the rate.
Since most psychiatrists are in a less risky occupation, they’ll likely get discounts associated with safe and defensive driving. And with a cost-efficient vehicle with tons of safety features, a psychiatrist can save even more.
How can bundling help save on psychiatrist auto insurance?
Psychiatrist insurance coverage is specialty insurance that some insurance providers won’t have. But what is psychiatrist insurance?
Psychiatrist insurance is a general liability policy with policy limits up to $2 million at some companies.
However, a psychiatrist may be able to find a general liability policy at an insurance company that also offers various policies.
If you can locate a company like that, you can bundle your auto insurance into psychiatrist insurance rates to save money on your insurance bill.
Auto Insurance for Psychiatrists: What’s the bottom line?
Psychiatrists may have cheaper rates in general because the occupation has a low risk of filing claims. However, that depends on the person who’s getting the car insurance policy.
Auto insurance companies pay close attention to various factors. Under the right circumstances, you can buy auto insurance for psychiatrists at an affordable rate.
You can shop for auto insurance for psychiatrists by using our free online quote tool below.