Is Car Insurance for Women More Expensive?
Insurance companies have historically used demographic data on the gender and age of their consumers to determine insurance rates. The practice of using this data sometimes has made it difficult for some people to obtain car insurance. It was always believed that women had to pay more for insurance because men are better drivers. However, this perception may not necessarily be the cause of more expensive car insurance for women.
The division of classes for car insurance for women and men, are mostly a thing of the past since insurance providers are now more competitive and more informed to the fact that women are equally, and in some case more responsible than men when it comes to driving.
The old adage that men are better drivers than women has made many to believe that car insurance for women is higher. In reality that is not the case, a recent study conducted by Carnegie-Mellon University shows otherwise when it comes to the battle of the sexes on the road. The study showed that men were twice as likely to die in a traffic accident than women were.
Further evidence from the insurance industry revealed that while 68% of women have no traffic violations, men who have never received a traffic violation is only 64%. Men also showed that they have more traffic violations than women do when asked how many citations they have ever received. In each study, men had 10% more violations than women did.
An attempt to level out the premium differences between men and women has prompted several insurance providers to cater specifically to car insurance for women. This eliminates the possibility that a woman will pay a higher rate than a man will simply because of her gender. These insurance companies have set up special individual companies to provide and underwrite car insurance for women only.
If you believe that car insurance for women is higher, you should consider the fact the insurance companies target young men as the riskiest of drivers. Finding out how you fare in comparison to other types of drivers is easy by getting a free online quote from any insurance provider. You will find that car insurance for women is in most cases less than the same class for men.
Although the general perception may be that women are worse drivers than men are, the insurance companies that underwrite car insurance for women do not necessarily reflect this. Although insurance providers use demographics and gender as a consideration, the mere fact that one is a man or woman is only one factor in determining the amount of that person's premium.