Real Estate Agent Car Insurance Rates

Real estate agent car insurance rates, or realtor car insurance, are $101.25/mo. Increased risk of accidents from higher travel time and stress levels often leads to higher real estate agent car insurance rates, or real estate agent insurance cost.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Sep 29, 2020

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Here's what you need to know...

  • People in sales and people in real estate have higher travel time than other careers
  • Due to the increased time in the car, these drivers have an increased risk of having an auto accident
  • This increased risk can lead to higher insurance rates
  • Remember to take advantage of the discounts that are available to you by your insurer

For those of you who have chosen a career in sales or real estate, your chosen occupation affects car insurance, leading to higher insurance rates, or higher realtor car insurance.

The national average annual rate for auto insurance for people with careers in sales or real estate is $1215.04. This is in the higher range in terms of what people pay by career.

Wondering why you are paying so much for auto insurance for realtors? Everything goes back to how much stress you have on the job and how much time you spend driving for your job. That’s some of the details we will be discussing below, not details on the best car for real estate agents.

Searching for real estate agent auto insurance quotes? Enter your ZIP code above to compare auto insurance rates from multiple auto insurance companies!

Real Estate Car Insurance Rates / Real Estate Insurance Cost

Both of these types of jobs rely heavily on commissions in order to be successful (and we understand the type of real estate agent car can help play a role).

As far as the insurance company is concerned, this means that every sale that you try to make is vital for your financial wellbeing.

This type of stress can make you a more careless driver and it increases your risk factors with the insurance company.

Another thing that you need to think about is just how much time you spend in your vehicle for work.

People both in sales and in real estate spend more time driving (hopefully, you have the best real estate car) while talking or texting on the phone than in most other career types which also increases your risk of having an accident since you are being distracted.

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The Exceptions to the Rule

Not everyone who works in sales and/or real estate will have to pay higher real estate agent auto insurance rates.

For example, there is a major difference between someone who works in sales at JC Penny versus someone who works in sales at a car lot.

It is important to make that distinction when you are getting auto insurance quotes because if you simply say you are in sales rather than a sales associate, then you will end up paying higher rates.

The same thing applies to real estate. There is a difference between a real estate agent (real estate agent insurance) and someone who works in a real estate office.

Again, it is important that you answer questions regarding your career, and not in regards to the field in which your career is situated.

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The Downside to Using Occupation as a Marker

No matter what occupation you have chosen for yourself, there is one major downside to insurance companies using your occupation to determine how much you will pay for your auto insurance.

Regarding auto insurance requirements for real estate agents, auto insurance companies don’t account for how successful you are or what type of role you might have in your company.

For example, there are some real estate agents who have not been impacted at all by the economic downturn, but insurance companies don’t take how much you are making into consideration when quoting you your rates.

A car salesman, for example, will probably have a higher stress level if they work at a place like Ford rather than a place like CarMax. CarMax works in a rotation so that everyone gets a chance to sell, it isn’t first come first serve.

Every dealer gets the same commission no matter what vehicle that they sell, so the stress is reduced.

However, car insurance companies (not real estate insurance companies) simply don’t make this distinction, which means that your rates are the same no matter how easy or stressful your job might be.

What Insurance Does A Real Estate Agent Need? / Real Estate Agent Insurance Quote

Saving money is just as easy for a real estate agent or someone in sales as it is for any other career.

In addition, you also need to shop around for your insurance so you can be sure that you are getting the lowest rates.

You can do that right now, if you are looking for affordable real estate agent auto insurance, by entering your ZIP code below and comparing auto insurance rates between several reputable auto insurers today.

References:

  1. https://www.realtor.com/advice/buy/how-do-real-estate-agents-get-paid/
  2. https://www.moneyunder30.com/become-a-real-estate-agent-11152
  3. https://www.jcpenney.com/?banner_type=linkshare&cm_mmc=Affiliates-_-UO85MF6im/8-_-10000908-_-3&utm…
  4. https://www.investopedia.com/ask/answers/101314/what-are-differences-among-real-estate-agent-broke…
  5. https://www.ford.com/?gnav=header-tools
  6. http://carmax.com/

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