According to a 2010 study by InsWeb.com, female car insurance is 9 per cent cheaper than men. It is certainly not because insurance companies discriminate against men by virtue of gender. Numerous studies and surveys show that women are more careful drivers than men, a fact that directly affects the risks taken by insurance companies when they insure a client.
Why Female Car Insurance is Cheaper?
The availability of cheap female car insurance is a well known fact in the car insurance industry. The general driving habits of women make them better risks than men. The feminine population generally prefers less expensive cars, file lesser and cheaper claims, have fewer DUI and traffic violations and are less likely to have multiple named drivers in her policy. All these data are backed by studies recognized by the government, thus allowing insurance companies to offer discounts for female car insurance.
Men drivers’ insurance is more expensive because they are considered higher risks compared to women. Studies reveal that more serious and fatal vehicular accidents involve more men than women. Impressively, women have a 50 per cent lesser chance of getting caught driving under the influence. Also, female drivers are 10 per cent less likely to get slapped with a speeding ticket or for reckless driving. These statistics generally translate to fewer road mishaps for women drivers and fewer insurance claims. Women generally prefer smaller cars. On average, most ladies cars are 8 per cent lower in cost than men’s which lowers premiums even more. Car insurance providers are aware that extending discounts to women must be based on statistics; otherwise, they may face complaints for gender discrimination.
Safety Issues
On top of factors mentioned, statistics have also shown that women are more inclined to observe safety practices when driving. There are studies that prove that women are more likely to wear their seatbelts, a basic safety measure for all drivers. Also, women tend to be more concerned with their driving skills enough to ensure that they pass their first driving examinations. More men have been known to fail it; not good for one’s driving record at all.
Age and Driving Experience
As men and women get older, the disparity in car insurance premiums generally decreases. This is because the length of driving experience is also taken into consideration. Young men are actually the most expensive to insure because their driving experience is minimal and statistics show that men aged 20 to 24 take the most risks when driving. According to Insurance Institute for Highway Safety survey, 71 per cent of car crash fatalities in 2008 in the United States were males.
Future Expectations
The time may come that gender won’t be a significant basis for a female car insurance quote. A recent research reveals that many teen aged girls get distracted while driving. Furthermore, young girls have shown a tendency for speed, a trait that used to be associated more with young male drivers. In reverse, young male drivers have literally slowed down and have shown less aggression on the road.
Where You Live Matters
Depending on the sate where you live, the amount you pay for car insurance premiums vary. Although the general average shows that women pay 9 per cent lower than men, some states offer bigger discounts and others, smaller. In a 2010 survey, Wisconsin posted the most disparity between the car insurance premiums paid by male and female drivers. Female Wisconsin drivers actually paid 20.3 per cent less than males. On the opposite end, Iowa had the least difference.
Making the most savings on female car insurance is affected not only by gender but the driving habits that women are known to have. While premiums are based on statistics, it also considers your driving history. Often, the latter can offset the advantage of the former, which is why it is really sensible to keep your driving record as spotless as you can, regardless of gender.