Why Women Pay Less for Car Insurance

By: August 9, 2013 Car Insurance

Here’s Why Ladies Pay Less for their Auto Insurance…

It’s no secret that there are a host of factors that car insurance companies use in order to set an individual’s policy rates.  While these determining factors all come with their own assorted reasons and justifications, one in particular seems to consistently jump out:  Gender.

It is pretty much a given that female drivers can pull better rates than male drivers.  Even though some guys may balk at this policy and find it to be an unfair practice, this has been the case for a long time, and it won’t exactly go away any time soon.   And despite the complaints and the instances of misogyny that occasionally come from men when a policy is renewed, there are plenty of good reasons as to why women pay less for car insurance.

Studies Support Insurance Logic

One of the biggest mitigating factors that an insurance company will use to justify the makeup is a policy is the use of statistics.  Based on this set of metrics, it becomes rather easy to see why women pay less for car insurance than their male counterparts.  For example:

  • According to the National Association of Insurance Commissioners, women are less likely to get into a car crash.
  • The same group also concludes that men are 10 percent less likely to buckle up behind a seat belt.  This decreased likelihood could potentially lead to a higher instance of medical expenses.
  • Men have a higher tendency to be unsafe drivers, especially when it comes to speeding.  According to the National Highway Traffic Safety Administration, fatal accidents caused in part by speeding are more inclined to be a factor when a male is behind the wheel.
  • According to a study conducted by the Federal Bureau of Investigation in 2010, men are nearly three times more likely to get popped by a DUI charge than women.
  • Women tend to purchase cars that are more practical and less flashy.  Cars that are more basic in make and model tend to carry more affordable insurance rates in general.

A Small Piece of a Bigger Picture

If you are a guy who has an impeccable driving record and a practical vehicle, you may feel a bit disheartened over these studies, as you may think that this gender factor plays an enormous part in setting your rate, and there’s not a thing you can really do about it.  However, you shouldn’t be too discouraged.  The truth is gender does not play as big of a role in determining policy rates as other factors do, such as age and marital status.  Of course, the biggest element in setting your rate is your driving record.  It doesn’t matter if you are a man or a woman; if your past driving record is riddled with various traffic accidents and moving violations, you can expect to pay a higher premium than the person that has a clean history.

Ultimately, that is always something that you should bear in mind when you are dealing an insurance company on a quest to find the most cost effective policy.  All of these determining factors – gender, age, driving record, even credit history – are just smaller pieces of a larger puzzle; one that can only be

properly viewed when they are assembled as a whole.  While the discrepancy between women and men exist in the car insurance world, similar gaps exists between young and old, single and married, good credit and poor credit.  And when you put things in that perspective, the fact that women pay less than men for car insurance isn’t that big of a deal.

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Lady Drivers Can Make Savings On Their Car Insurance

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