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Why Do Women Pay Less For Car Insurances?

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Why Do Women Pay Less For Car Insurances?

Why Do Women Pay Less For Car Insurance

You’ve probably heard this assertion before when it comes car insurance: Women usually pay less than men for their policies. Is this true and if so, why?Women tend to pay quite a bit less on their car insurance premiums compared to their male equivalents as they are considered as better chauffeurs and even more cautious than males.

Studies have shown that men are riskier for car insurers because they get into more accidents.Yes, this may simply be because they drive more than women.Of all the miles driven, men total about 60 percent, but that figure may change or have changed. Remember,more and more women drivers are owning cars these days, and the question remains whether rates will change because that. Generally, women are less likely to get into an accident than men, this is according to several studies. In other words, men tend to drive more aggressively hence why they are costlier to insure.

According InsWeb, an online insurance comparison provider, women do pay an average 9% less than men do for their car insurance.

You need to remember that:
  • Statistically speaking, more male drivers (especially) under the age of 25 are involved in car accidents than women. This is the the main reason behind the increase in their car  insurance rates.
  • According to statistics,car accidents double for men, when you look at men ages 25 and under and women ages 25 and under.
  • Statistics have also shown that men in this age range are more likely to drink and drive; and obviously more likely to be involved in fatal crashes.
  • The biased prices in car insurance premiums end once the age of 26 is reached. At this point, men and women are somehow on an equal level.

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