Cheap Car Insurance Quotes for Women Drivers – Car Insurance Advice. Generally, young men pay more for car insurance than any other demographic of people. While women under 25 also pay more for car insurance than their older counterparts, they still pay much lower premiums than men in their 20s. Young male drivers pay approximately 10 percent more for car insurance than women do.
As a rule, car insurance premiums do begin to equalize after drivers turn 25, but many women do continue to pay lower premiums throughout their lives than men. That said, many other factors play a role in determining auto insurance costs so just because you are a woman doesn’t mean you always have cheaper car insurance rates. What do car insurance companies review to determine your premiums?
Auto insurance companies set their rates by calculating the risk of filing a claim. The higher a person’s chances of filing a claim, the more that individual’s insurance will cost. Because risk calculation requires a lot of speculation, car insurance companies rely heavily on statistical information. This “group data” often leads to general assumptions about your risk well before an insurer even looks at your driving record or credit score. For most women, there will be an advantage out of the gate as women drivers (in general) are at lower risk to insure than men.
Once you get past the gender question a driver’s history is the main factor used to determine car insurance costs. People with a history of auto accidents are considered more likely to be involved in further accidents in the future; additionally, people who have speeding tickets or DUI convictions may be involved in auto accidents due to their reckless driving habits.
A person’s gender is only one element of the cost of a policy. Other factors that play a role in the cost of insurance include an individual’s age, credit score, marital status, and much more. Because so many other elements are considered, not all women will likely have cheaper policies than all men. The price difference may not even be noticeable for some policies; even a 10 percent price increase is only a few dollars more per month. Why do men pay more for car insurance?
Statistically, men are more likely to be involved in a car accident. 73 percent of all auto accident fatalities are men, and men are more than twice as likely to be in a serious auto accident as women. This isn’t because men are necessarily worse drivers; this is due in large part to the fact that men drive more than women. Statistically, men drive 60 percent more than women do and are more likely to go on long drives. Women, on the other hand, tend to do more driving close to home and are involved in more minor collisions. Culturally, there are several reasons why men may drive more than women. In many couples, the man drives whenever the couple goes out. Men are also somewhat more likely to work outside the home, meaning that they commute more. Men may also be more aggressive drivers, and men drink and drive somewhat more often than women do.
As a male driver age, his auto insurance premiums will become based more on his driving record than on statistical information. After the age of 25, most car insurance companies begin reducing rates for all drivers, and men may have premiums much closer to women in their age bracket. At that point, the individual’s driving habits mean more to the insurance company than statistics, and practicing safe driving habits is the surest way to guarantee low premiums.
Regardless of your gender, the best way to find the cheapest car insurance quotes is to shop online and compare car insurance quotes from multiple providers.
