The Best Car Insurance Discounts for Chartered Accountants

To quote one of the most iconic Monty Python sketches, chartered accountancy is, “Dull. Dull. Dull. My God it’s dull; it’s so desperately dull and tedious and stuffy and boring and desperately dull!” 

It’s fair to say that Michael Palin and his fellow Pythons didn’t think much of the profession, and while it’s not an extreme or exciting occupation, there are many upsides to being a chartered accountant. 

For one thing, they earn more than the national average, falling somewhere between $80,000 and $100,000 on average. In addition, they may be offered cheaper car insurance, as they are deemed to be relatively low risk by insurers.

Do Chartered Accountants Pay Less for Car Insurance?

Auto insurance companies always inquire about your profession and it’s an important metric for calculating risk. It may seem irrelevant for everyone except racecar drivers and taxi drivers, but it’s an important part of the process.

If you’re a bartender, for instance, it tells the insurance company that you’re more likely to drive at night, consume alcohol, and leave your car parked outside pubs and clubs, where it could be vandalized or stolen. If you’re a teacher, it means your car will spend many hours in school parking lots, whereas consultants may travel long distances.

Your education level also comes into play. Doctors, professors, bankers, and accountants tend to be highly qualified. They are more likely to have finished high-school and completed several years of higher education than someone who works as a janitor, for example. As a result, even if they work in the same office block and have the same commute, an accountant may be charged lower rates than members of the cleaning or maintenance staff.

How Much Does It Cost?

Your exact rate will depend on a host of factors, including:


Drivers in Michigan are charged more than drivers in Maine, and the difference is far from slight. In fact, full coverage car insurance could cost over twice as much from one state to the next, and it works on a regional level as well.

If there have been many thefts and property crimes in your area, you’ll be charged more for comprehensive coverage. If the accident rate has climbed, you can expect your minimum coverage to follow.


Don’t assume that Geico, for example, is the best insurer for you just because they gave your friend or family member a great quote. Compare and contrast, check national and local providers, and provide them with as much information as you can.


Most chartered accountants don’t qualify until they are between 25 and 28 years old, at which point they have left the highest risk age group and can start reaping the benefits. The younger you are, the more you will save with every birthday, so consider renewing and comparing when the big day comes around.

Marital and Homeowner Status

Married drivers take fewer risks than single drivers. It’s one of the many odd quirks of insurance and the reasons aren’t entirely clear. 

It could be that married drivers have more responsibilities and so they take fewer risks. Maybe marriage instills a level of maturity, or maybe they just don’t want to be reprimanded by their spouse. Whatever the reason, it’s factored into the equation and can impact your quotes.

The same is true for homeowner status, with homeowners paying less than renters.


You won’t get a discount just for being a chartered accountant. The “discounts” discussed in relation to this profession are just organic reductions based on probability. 

However, there are other reductions for which you could qualify. These include bundling discounts, whereby you combine multiple cars or insurance types, as well as payment discounts that help you save by going paperless or paying upfront.