Are You Paying too much for your Car Insurance as a Professional Athlete

Are You Paying too much for your Car Insurance as a Professional Athlete

Friday 20th March 2020

You’d think that as a professional athlete – young, fit, with lightning fast reactions – you’d be a more competent driver than most, and therefore more likely to get a cheaper rate on your car insurance. Unfortunately, the insurance industry doesn’t see it that way. In fact, if you describe your profession as ‘sports man or woman’ on your car insurance applications, then chances are the quote you are given is a lot higher than your old classmate who went on to become a P.E teacher. 

The truth is, professional athletes have been getting a raw deal on their car insurance for years. Car insurance is something you will almost certainly need as a professional athlete, and yet the options available to you are reduced the moment you fill in the quote. 

Why the High Prices?

Car insurance companies see professional athletes as high-risk customers. Expensive premiums are the norm, and some will even refuse to insure you. There are a few reasons for this. 

Firstly, if you are a professional athlete, you are more likely to have another professional athlete in your car. In the event of an accident, there is the chance that a higher than average pay out may be claimed. This is because the claim would have to cover the loss of earnings due to injury. (This is one reason that athletes competing in individual sports often pay slightly less than those involved in team sports). 

A second reason for the higher car insurance premiums that you might pay as a professional athlete is your public profile. Insurance companies take into account the fact that you might be a person of interest to fans or even the press. If you are, the chances of you being followed in your car are higher, and therefore the chances of an accident are increased. 

A final reason that you might be paying too much for your car insurance is based on reputation. Unfortunately there is evidence to show that professional athletes are more likely to pick up points for things like speeding or using mobile phones than many other professions. 

All of which means that a search for car insurance via price comparison sites will almost certainly bring up quotes that are far too high. 

Help is at Hand

Despite the risks identified above, there are a number of specialist insurance companies who do recognise deals that meet the needs of professional athletes. They may not be able to bring your quotes down to the rates of your P.E. teacher friend, but they will almost certainly find you something more attractive than you’d get from a price comparison site. This might be by tailoring a bespoke deal, or by using telematics – an automatic system that records how safely you drive (you do of course have to drive safely to benefit from this!). 

The Play-Ex platform is all about making these essential services easy for you as a professional athlete to access. We understand that your profession can make it more difficult to get services like insurance, so that’s why we’ve compiled a list of specialist brokers who will help you reduce your car insurance premium. Browse our list of specialist brokers and start saving money on your car insurance premium today. 

Disclaimer: This blog post is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this blog post. Although we make reasonable efforts to ensure that the information included in this blog post is correct, we make no representations, warranties or guarantees, whether express or implied, that the content of this blog post is accurate, complete or up to date. If this blog post contains links to other sites and resources provided by third parties, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.

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